Cosco Shipping, the joint venture between China’s COSCO Shipping and Italian company Fratelli Cosulich, has made a significant move in its expansion strategy by acquiring Trasgo, a prominent Italian logistics supply chain company. This acquisition solidifies Cosco Shipping’s position in the European market and paves the way for further growth and development in the digital supply chain sector. With this strategic move, Cosco Shipping aims to capitalize on the changing logistical needs and provide innovative solutions to its customers.
Trasgo, founded in 1981 in Novara, Italy, has established itself as a leading player in the logistics industry. The company offers a wide range of services, including transport, warehousing, customs operations, goods handling, trade fair logistics, and direct management of warehouses at customer facilities. With 14 warehouse facilities spanning almost 300,000 square meters and a fleet of over 320 trucks and handling units, Trasgo has built a robust infrastructure to cater to various sectors, including industrial, promotional, technology, and e-commerce logistics. The company’s transport services cover both national and international routes, utilizing air, sea, and land transportation modes.
The acquisition of Trasgo by Cosco Shipping signifies a significant strategic move for both companies. By acquiring the entire capital of Trasgo, Cosco Shipping solidifies its presence in the Italian logistics market and expands its coverage and diversifies its operations. This acquisition is a testament to the power of collaboration and synergy between international players and countries, creating unparalleled value for all stakeholders involved.
Augusto Cosulich, the chairman of Fratelli Cosulich Group, emphasized the importance of finding the right partners and being open to investing resources to foster growth. He stated, “It’s time to underline that it is possible to grow together with established partners, but entrepreneurs need to be open to investing their resources.” This acquisition is a testament to the long-standing relationship between Fratelli Cosulich and Cosco Shipping, which spans over 30 years.
With the acquisition of Trasgo, Cosco Shipping takes a significant leap forward in its goal to develop a robust digital supply chain in Italy and the European region. The integration of Trasgo’s expertise and infrastructure with Cosco Shipping’s resources and innovative solutions will enable the joint venture to provide real solutions to the evolving logistical needs of its customers. By leveraging technology and embracing innovation, Cosco Shipping aims to stay ahead of the curve and deliver exceptional value to its clients.
The acquisition of Trasgo marks a pivotal moment for Cosco Shipping, Fratelli Cosulich, and the logistics industry as a whole. The collaboration between these two industry giants will undoubtedly result in unparalleled growth and development opportunities. By combining their strengths and expertise, Cosco Shipping and Trasgo will be able to provide enhanced services and cater to a broader range of customer needs.
Anna Ida Russo, the managing director of Trasgo, expressed her confidence in the partnership, stating, “We are convinced that Cosco Group, driven by the same principles and values, will be the right partner to allow Trasgo and its entire ‘family’ the deserved further development.” This sentiment highlights the shared vision and commitment to excellence that both companies possess.
The acquisition of Trasgo by Cosco Shipping propels both companies into a new era of growth and innovation in the logistics industry. With Trasgo’s robust infrastructure and Cosco Shipping’s resources and technological advancements, the joint venture is well-positioned to provide cutting-edge solutions to its customers. This strategic move sets a precedent for the power of collaboration and investment in the logistics sector, showcasing the potential for remarkable value creation. As Cosco Shipping continues to expand its logistics empire, the future looks bright for the company and its customers alike.