Tuesday, September 7, 2010

Schneider to Sell US, Chinese Forwarding and Brokerage Services to French Firm

Global supply chain firm Schneider Logistics has agreed to sell its freight forwarding and customs house brokerage business in the United States and China to French transportation and logistics firm Norbert Dentressangle.

Schneider officials said the deal, expected to close Oct. 1, will not affect Schneider's other supply chain services, including transloading, warehousing, distribution, port dray services, inland logistics management, supply chain management, brokerage or domestic China transportation services.

A statement by Schneider also said that there will be no job losses through the sale and all Schneider employees impacted by the sale are expected to become employees of Norbert Dentressangle.

The sale affects seven Schneider locations in the US (San Diego, Los Angeles, San Francisco, Miami, Atlanta, New York and Chicago) and two locations in China (Tianjin and Shanghai).

Financial details of the sale were not released.

The 21-year-old Norbert Dentressangle is a $3.5 billion a year firm with 27,000 employees throughout 355 locations in 17 countries.

The firm, based in Lyon, France, has nearly 7,000 tractors, just over 6,500 trailers and 5.3 million square feet of warehouse space.

Schneider CEO and President Chris Lofgren said his firm's freight forwarding and customs house brokerage business no longer fit with Schneider's strategic focus on the core business of truckload, logistics and intermodal services.