LBC buys 4 more cargo firms
Logistics service provider LBC Express Holdings Inc. is acquiring four affiliate cargo companies in Australia, Singapore and Taiwan for $4.6 million.
In a stock exchange filing, LBC said its board approved the purchase of shares in LBC Australia Pty Ltd., LBC Money Transfer Pty, LBC Express Airfreight (S) Pte. and
LBC Aircargo (S) Pte.
LBC said the acquisition contribute to its global revenue stream.
Last March, the company bought four other US-based cargo and remittance firms for $8.55 million as part of its overseas expansion.