Mid-Major Freight Forwarding Powerhouses Join Forces
Strategic merger between Overseas Group and Globe Express Services promises global scale, world class capabilities
Charlotte, NC – March 30, 2010: The management teams of Overseas Group (www.overseas-global.com <http://www.overseas-global.com/> ) and Globe Express Services® (www.globeexpress.com <http://www.globeexpress.com/> ) are pleased to announce the merger of the two companies, commemorated at a March 20, 2010 signing ceremony at the Mandarin Oriental Hotel in Hong Kong. These two privately held “mid-major” freight forwarders, each with longstanding operating histories, mature corporate office networks and diversified client bases, are joining forces to expand their global capabilities, build economies of scale and leverage best practices across their organization.
The newly combined company will retain the management teams from both organizations. Ziad Korban, who will serve as CEO, explained the benefits of this merger in saying, “Combining forces with Overseas Group strengthens our position in the logistics market by increasing our efficiencies, knowledge base and market share. This new partnership will enable us to offer more value added services, expand our geographic footprint and embark upon new opportunities.”
Gilbert Khoury, President of Overseas Group, explains that “very little overlap exists within our companies, each with its own unique areas of expertise both in terms of business segments and trade lanes served, along with geographic presence. Leveraging these non-competing strengths will enable the combined company to rapidly build size and scale, expand its corporate network and thus better serve its clients.” For example, Overseas Group’s forte is U.S. Exports to Europe and the Middle East, while Globe Express Services (GES) has historically focused on Asian imports to the U.S.
Tony Bikhazi, who will serve as President – The Americas for the merged company, said “Both companies have proud histories, strong brands and proven reputations, along with loyal client bases. The corporate cultures really clicked in this respect, with both groups committed to providing technology backed logistics solutions and people-driven customer service.” The companies claim network synergies are immediately attainable, with very little resource and functional consolidation required. Mr. Bikhazi adds, “Both companies had powerful regional strengths, relationships and operating platforms. The combined company now offers robust front line support (corporate offices) and personnel in nearly every major global logistics market including Asia, The Americas, Europe and the Middle East. The biggest thing our customers will notice is expanded global capabilities, backed by great service and value. Beyond that, it will be business as usual.”
To ensure success, the company’s transition team is aggressively working to streamline back office operations, develop a mutual corporate identity, and most importantly, maintain the high level of customer service that both Overseas and GES are known for. Ziad Korban, CEO, characterized this moment as a “win-win-win for our customers, our employees and the company as a whole. We are completely committed to the success of all the stakeholders we serve.”
At Globe Express Services ® (GES), we deliver solutions backed by the ultimate in customer service. Since 1974, GES has enabled its clients' supply chain success through ocean & air freight forwarding, customhouse brokerage & compliance, cargo consolidation, warehousing/distribution and information services. For more information, please visit www.globeexpress.com <http://www.globeexpress.com/> .