-Merger Aimed at Strengthening Lifestyle-related Logistics Services-
TOKYO, Jan. 17, 2020 /PRNewswire/ -- Three Nippon Express Group companies in Italy--Nippon Express Italia Srl, a Milan-based Italian subsidiary of Nippon Express Co., Ltd., Franco Vago SpA (hereinafter "Franco Vago"), and Traconf Srl (hereinafter "Traconf") --were merged to form Nippon Express Italia SpA (Head Office: Florence; President: Arnaldo Vivoli) on January 1, 2020.
A ceremony was held in Milan on January 15 to mark the merger.
Photo1: Merger ceremony https://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI2lg_398ZjS2P.jpg
Photo2: Speech by new presidenthttps://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI3lg_qIr812fF.jpg
Purpose of merger
In 2013, Nippon Express Co., Ltd., acquired Franco Vago, which is engaged in apparel-related forwarding operations primarily for luxury fashion brands in Italy, and in 2018 it acquired Tranconf, which is involved in warehouse storage, distribution and other services connected with fashion and lifestyle in Italy and the rest of Europe as well as the U.S. and China, and which, like Franco Vago, has a customer base consisting principally of luxury fashion brands.
The merger aims to accelerate and maximize synergy in sales and operations in one fell swoop and achieve dramatic growth, inclusive of existing Nippon Express Italia Srl, to step up efforts in the high-fashion sector, a priority industry in Nippon Express's corporate strategy, and to make the new company a leading provider of logistics services to the fashion logistics sector.
The merger makes Nippon Express Italia SpA the largest Nippon Express Group company in Europe and the second largest overseas subsidiary after Nippon Express USA, Inc.
Benefits of merger
Profile of new companyhttps://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI1fl_R28hVyl3.png
Effective date of mergerJanuary 1, 2020
Nippon Express website: http://www.nipponexpress.com/
Official LinkedIn Account: NIPPON EXPRESS GROUPhttps://www.linkedin.com/company/nippon-express-group/
