Global transport and logistics company DSV announced yesterday it started operations in Cambodia following its acquisition last year of UTI Worldwide and its office in the Kingdom.
DSV acquired UTI Worldwide in January 2016 for a reported $1.35 billion, making it the fourth-largest freight forwarding company in the world, according to the group’s website.
Through the purchase, DSV took over all of UTI’s operations in 58 different countries, including Cambodia.
The new local branch, DSV Cambodia, has one office in Phnom Penh and will focus mainly on air and sea freight, according to a company representative. It will also provide warehousing, buyer consolidation, project transport and customs clearance services, according to a press release.
Kanyarad Julhiran, managing director of DSV Air and Sea, Cambodia and Thailand, said in the release that the Kingdom’s rapid growth and good economic prospects would help the development of its local operations.
“Cambodia is fast-developing economy and has great potential for even further growth, so we are looking forward to build on the strong foothold we already have here,” she said.