Far East Shipping Company has acquired transport-and-logistics company Incotec Group
Far East Shipping Company has acquired Saint Petersburg transport-and-logistics company Incotec Group CJSC. According to RZHD-Partner referring to some information agencies, the transaction value amounted to $10 million, but the company’s representative in his interview to the correspondent of RZHD-Partner.Ru has specified neither value nor volume of the shareholding acquired by the shipping company.
Incotec Group includes Terminal-Service stevedoring company handling refrigerator cargo and comprising seven operating berths; Incotec Cargo company engaged in cargo transportation; Baltic Fleet company carrying out towing operations in the port of Saint Petersburg and Riga, as well as motor transport, railroad, forwarding, agency and operating companies.
FESC transports cargo between the Far East ports as well as ports of South Korea, Japan, China, Taiwan, Vietnam, Australia, New Zealand and USA. Major shareholder of the shipping company is the Industrial Investors group (about 81.8% ordinary shares).