Australia's Toll Group has agreed to acquire 40 per cent of Tianjin Anda Logistics, a third party logistics service provider in China’s rapidly expanding automotive market. “The Chinese automotive market is the largest in the world and offers immense opportunities for Toll to leverage our industry leading automotive capabilities,” said Toll Group managing director, Paul Little.
“The market grew 32 per cent in 2010 to record sales of 18.6 million vehicles compared to 11.8 million in the US. In the future, motor vehicle sales will be supported by strong economic growth, the current low rate of car ownership (50 cars per 1000 people in China versus over 750 in USA) and government investment in road infrastructure."
In 2010, Tianjin Anda, based in Tianjin, generated revenue of over RMB 400 million (AUD58m). Aircargo Asia Pacific |