According to announcement made last week to the Tel Aviv stock exchange UTi Worldwide, Inc. an international, non-asset-based logistics company negotiate to buy a controlling interest of "Transclal Trade Ltd." at $40 million company value
Yesterday it was also announced that Israel's Zim Integrated Shipping Services said its "Newlog" unit had begun talks on a merger with Israel's "Transclal Trade" and U.S. ocean freight and logistics firm UTi Worldwide.
UTi Worldwide, Inc. is one of the largest US freight forwarding company offering air and ocean freight forwarding, contract logistics, customs clearances, distribution, inbound logistics, truckload brokerage, and other supply chain management services, including consulting, the coordination of purchase orders, and customized management services.
UTi Worldwide, Inc posted a net profit of $17 million and an operating profit of $27 million on $773 million revenue in its first fiscal quarter of 2007, which ended in April. The company has a market value of $2.4 billion.
Transclal posted NIS 24 million revenue for the first quarter of 2006, 13.2% more than for the corresponding quarter of 2005. The company posted an operating profit of NIS 7.7 million, up 11.8% on the corresponding quarter, and a net profit of NIS 6.3 million, up 38%.