PSA International has acquired a strategic minority stake in SOTRANS Group (STG) from Indo-Trans Logistics(ITL) through its fully-owned subsidiary, PSA Cargo Solutions Vietnam Investments.
Established in 1975, STG is a logistics provider in Vietnam. It has three main pillars of business, each held by a subsidiary company. The pillars are inland container depots and barging; freight forwarding and contract logistics; as well as transportation of heavy lift and project cargo. The partnership between PSA and ITL leverages STG’s strong presence in Vietnam with its local expertise.
The latest venture in Vietnam strengthens PSA's network in the region and is in line with its aspiration to be a global supply chain orchestrator and enabler of sustainable trade, says PSA group CEO Tan Chong Meng.
“With its strong fundamentals and robust growth potential, Vietnam is poised for further economic expansion and we are glad to be able to work with like-minded partners to broaden and deepen our involvement in the country with this latest collaboration.
“It reaffirms our commitment to better service cargo owners in the region through differentiated and innovative value-added supply chain services,” says Tan.
