Livingston sells event logistics business to ICECORP; transitions domestic logistics activities to Schenker
Following the announcement that Livingston International signed an agreement to transition the bulk of its warehousing and ground transportation business to Schenker of Canada, the company has now sold Livingston Event Logistics to ICECORP Logistics. Canada-based Livingston International has sold its event logistics business, which provides specialised services for trade shows and other events, to ICECORP Logistics. Under the terms of the transaction, which closed on December 15th, ICECORP Logistics is extending offers of employment to all of Livingston’s event logistics staff, taking over all assets of the business and assuming all contracts and leases. The transaction does not affect Livingston International’s customs brokerage, international trade consulting, international freight forwarding, vehicle transportation or managed services businesses. According to Livingston’s president & CEO Peter Luit, the decision to exit the convention and trade show business is part of the company’s five-year plan to increase its focus on its customs brokerage, trade consulting and international freight forwarding businesses, particularly in the US market. On December 8th, Livingston International and Schenker of Canada entered into an agreement under which Livingston will transition the bulk of its integrated logistics operations to Schenker. Like the ICECORP deal, this transaction does not affect Livingston’s international freight forwarding or vehicle transportation operations, nor its Canadian and US customs brokerage, international trade consulting, or managed services businesses. Under the terms of this agreement, Livingston will transition the majority of its ground transportation and domestic warehousing business to Schenker in planned, collaborative phases over the next five to six months. Although there will be some job losses in areas such as Livingston’s intermodal operation as well as certain operational and support functions where there will be overlap, many Livingston Integrated Logistics employees will be part of the move to Schenker. Peter Luit commented: "Since Livingston was acquired earlier this year by Sterling Partners and Canada Pension Plan Investment Board, we have been refining our strategic direction and five-year plan. What has emerged, is our desire to adopt a much sharper focus on our core customs brokerage, international freight forwarding and compliance businesses, to grow substantially in the US market. While our integrated logistics unit is a very interesting business with considerable potential, it has not proven to be as complementary to our customs and compliance services as we had anticipated." Quelle: eyefortransport Portal: www.logistik-express.com |