VASCOR completes acquisition of Commonwealth Express
Georgetown, Kentucky, 3 September 2014:
Move positions VASCOR for strategic growth
VASCOR Ltd., a leading global automotive logistics provider, announced today the acquisition of Commonwealth Express, Ltd., a U.S.-based provider of asset-based transportation and brokerage services.
The transaction, which closed 25 July 2014, will accelerate VASCOR’s plans to expand its service offerings in dedicated contract carriage, transactional and truck brokerage to automotive original equipment manufacturers (OEMs) and suppliers, as well as to companies in adjacent sectors such as industrial manufacturing. The acquisition is expected to boost VASCOR’s 2014 revenue by more than US$ 20 million.
Commonwealth Express will now be rebranded as VASCOR Transport, Ltd, with the majority of its management and driver workforce retained. Combined with VASCOR’s existing asset base, VASCOR Transport will comprise more than 125 drivers and 100 trucks serving a diverse customer group with services primarily in the U.S. east of the Mississippi.
VASCOR is a joint venture of Singapore-based supply chain management leader APL Logistics and FUJITRANS Corporation of Japan. Formed in 1987, VASCOR offers third-party logistics services to key automotive companies in the U.S., Canada, Mexico and India. Based in Georgetown, KY, it serves major automotive manufacturers or sales entities as well as all Class One Railroads.