PSA Cargo Solutions Vietnam Investments Pte Ltd has acquired a strategic minority stake in SOTRANS Group (STG), also known as South Logistics Joint Stock Company, from Indo-Trans Logistics (ITL).
The partnership between PSA and ITL leverages STG’s strong presence in Vietnam with its local expertise in logistics, ports, barging, and project cargo, and PSA’s global network of deepsea, rail and inland terminals, affiliated businesses in distriparks, warehouses, logistics and marine services, comprehensive suite of digital solutions as well as global expertise in end-to-end supply chain services.
PSA International Group CEO Tan Chong Meng said, “This latest venture into Vietnam strengthens our network in the region and is in line with our aspiration to be a global supply chain orchestrator and enabler of sustainable trade. With its strong fundamentals and robust growth potential, Vietnam is poised for further economic expansion and we are glad to be able to work with like-minded partners to broaden and deepen our involvement in the country with this latest collaboration. It reaffirms our commitment to better service cargo owners in the region through differentiated and innovative value-added supply chain services.”
Regional CEO Southeast Asia Ong Kim Pong added, “PSA is pleased to partner ITL, a renowned and well-established logistics service provider, as we expand our Node-to-Network strategy in Southeast Asia, with Vietnam being one of our key markets. STG serves as a Port+ differentiator and this strategic collaboration enables both companies to leverage synergies and further strengthen our position to deliver a stronger value proposition to our customers. Together, we can orchestrate resilient and sustainable supply chain solutions to meet their dynamic needs.”
For more information, please click HERE for the press release.
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