Transoceanic to merge with PWC Logistics

International freight forwarding and logistics management company merges with PWC to better serve the industrial and oil & gas industry.

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By  Laura Barnes Published  April 19, 2005

US-based Transoceanic Shipping has announced that it is to merge with Kuwaiti-based PWC Logistics. Under the terms of the agreement, PWC will own all of Transoceanic’s shares. The merger will see Transoceanic gain access to the resources needed to continue its rapid growth, including PWC’s IT platform. The US-based company will also be able to leverage on PWC’s infrastructure in the Middle East, Arica and Asia, to offer its customers an expanded range of supply chain services across the globe. “We are proud to join PWC and this transaction presents the entire Transoceanic team with an opportunity to take the company to new heights,” said Gregory Rusovich, CEO, Transoceanic. “This transaction also provides our customers with an enhanced global reach, scale and range of services that we can now access thanks to PWC,” he added. PWC and Transoceanic will begin operations by identifying and pursuing cross-selling opportunities in the Middle East, with particular interest in the growing oil & gas, and industrial markets. “Transoceanic built its outstanding reputation by focusing on execution and exceeding customer expectations, and we look forward to working with them and providing our combined customer base, and the growing market at large, with an expanded service offering,” added Tarek Sultan, chairman, PWC Logistics.

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