Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Mondiale, VISA Global Logistics Merger Creates A Logistics Giant

New Zealand’s largest privately-owned logistics provider, Mondiale Freight Services, has agreed to merge with its major Australian equivalent, VISA Global Logistics, to create a new global freight giant.

The combined Mondiale Visa business will turnover a combined annual revenue of NZ$1.3 billion propelling it into the top 30 ocean freight forwarders in the world, and the largest privately-owned freight forwarder in Oceania.

“The integrated service offering provided in New Zealand and Australia will be unrivalled, given the investment in logistics infrastructure that this merger provides to the market,” says Ray Meade who will become CEO of the merged group.

“We work in a sector where scale is increasingly important. The strength of the combined entity, supported by its extremely valued and dedicated staff will deliver significant advantage to both its existing and future customer base.”

Meade said that despite disruption in global shipping and supply chains, there had been a big increase in volumes to deal with, which had lifted the profitability of the shipping companies.

“Our revenue has increased substantially as has the number of shipments that we handle.”

Mondiale and VISA combined currently handle circa 500,000 containers per annum and employs in excess of 1,500 people globally with operations across New Zealand, Australia, North Asia, South East Asia, the Indian Sub-Continent and Europe.

Both companies have made significant investments in wharf transport in New Zealand and Australia and offer a total end to end supply chain solution in these two countries

The founding seven executive shareholders of Mondiale and VISA will remain with the company as shareholders in their executive positions.

Freight forwarders like Mondiale and Visa are the intermediaries that arrange how shipments get from A to B. They don’t own the ships and planes that make the journey happen, but handle logistics including but not limited to ocean-freight, air-freight, customs, wharf transport and warehousing.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>