Transclal trade Ltd. informed the Tel Aviv Stock Exchange that talks with Newlog had been cut off due to inability to reach mutually acceptable agreements
Transclal trade Ltd. informed the Tel Aviv Stock Exchange last week that talks with Newlog had been cut off due to inability to reach mutually acceptable agreements.
Earlier this year the two companies said they were holding talks to examine close co-operation.
Transclal Trade is one of Israel's leading customs brokers and international freight forwarders. With its network of international partners, the company offers a comprehensive range of import and export services, including an in-house insurance agency.
It has maintained its leadership position by offering fully integrated customer - focused services, covering all supply chain activities, using the most sophisticated fright management system.
Transclal which had a close collaboration with BAX Global and has acted as BAX Global exclusive representative in Israel was informed that due to the take over by Deutsche Bahn AG .it will loose its exclusive representation.
Newlog, a logistic subsidiary of Zim Integrated Shipping Services, has recently reached an agreement to work with full partnership with UTi.
UTi, a global freight forwarder, has become a broad-based, information-focused company offering a wide range of global integrated logistics to a customer base that stretches worldwide. The company operates 1,300 branches in 120 countries around the globe.