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Purchase of MAP Global Logistics Extends IJS Reach Across Asia-Pacific
QUEENS, NY (December 16, 2005)—IJS Global Inc.®, a fast-growing international air and ocean freight forwarder, customs broker and non-vessel operating common carrier, said today it has closed on the acquisition of MAP Global Logistics Inc., an air and ocean freight forwarder based in Paranaque City, Philippines, near Manila Ninoy Aquino International Airport. Financial terms of the transaction were not disclosed.
Effective January 1, 2006, MAP’s name will change to IJS Global Philippines Inc., and be integrated into IJS Global’s expanding Asian network. Recently, IJS Global expanded into China and Hong Kong, and its Hong Kong subsidiary will establish nationwide operations across China after receiving a “Class A” freight forwarding license from the Beijing government.
Founded in March 2003, MAP offers multi-modal services to Filipino importers and exporters serving Asia, North America and Europe. It enjoys a particularly strong niche in intra-Asian ocean freight services through close ties with multiple shipping lines in the region. As IJS Global Philippines Inc., it plans to add customs clearance services within the next year to become a fully integrated provider offering end-to-end supply chain management solutions.
“MAP’s experienced management in the Philippines and its balanced strength in air and ocean coverage will enable us to meet a wider set of customer needs and provide us with a significantly greater opportunity to expand into new markets,” said John Gallahan, president and CEO, IJS Global. “We will continue to broaden our Asian presence through internal growth and strategic acquisitions of companies with solid managements, proven business models, strong product niches and loyal customer bases.”
IJS Global has retained all of MAP’s employees, including Managing Director Richard Chan and General Manager Aaron Francisco, Gallahan said.
“We are delighted to become a key part of the IJS Global team,” said Chan. “We plan to leverage IJS Global assets and resources to power our import and export businesses, and we will become a known commodity in markets outside The Philippines served by IJS Global.”
ABOUT IJS Global Inc.®
Headquartered at New York’s JFK International Airport, IJS Global, Inc. is building a global logistics footprint through a strategy of internal growth and timely acquisitions. It operates out of six U.S. offices and internationally through a network of agents and company owned offices. IJS Global was acquired in December 2004 by Brynwood Partners V L.P. Brynwood Partners has managed its private equity funds since 1984 and invests in small, mid-market businesses specializing in consumer products, light industrial manufacturing, specialty retailing and business services.
IJS Global can be found online at www.ijsglobal.com. Brynwood Partners can be found online at www.brynwoodpartners.com.
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