Hong Kong-based Kerry Logistics said Monday it has secured a majority stake in Vietnamese company Tin Thanh Express to offer integrated logistics services across the Southeast Asian country.
The new joint venture company, Kerry TTC Express, will combine the global logistics expertise and international freight network of Kerry Logistics with the local competence and connections of TTC Express.
“Vietnam is one of the fastest growing economies in Asia, and we recognized that TTC Express is a market leader in its field,” said Rosa Du, chairman of Kerry TTC Express, in a statement.
Headquartered in Hanoi, TTC Express is a privately run express company with operations in more than 60 cities in Vietnam and operates a fleet of 160 trucks. It offers domestic nationwide next-day express delivery, courier, less-than-truckload, truckload, and line haul, as well as international express.
Its three major hubs are Hanoi, Ho Chi Minh City and Da Nang, where cargo and packages are sorted, consolidated and delivered by air and road freight. The company handles more than 10,000 shipments every day, Kerry said.