POPULAR WORDS

February 3, 2010

The Toll Group has continued to expand its reach, buying global freight forwarding business Summit Logistics International for A$80 million.

Summit generates A$300 million each year and is recognised as a top five provider of ocean freight between China and North America.

Based in New Jersey, Summit generates 30 percent of its revenue by providing supply chain solutions to it freight forwarding customers within the US.

Toll Managing Director Paul Little says the company has been investigating US based opportunities for some time.

“The development of significant scale in the Trans-Pacific trade lane is a key element of delivering price competitive services to US based customers,” Little says.

“Importantly, integrating Summit into Toll Global Forwarding (TGF) also improves Toll’s total supply chain capability in the global forwarding sector”.