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A UNIT of Aboitiz Transport Systems Corp. on Wednesday disclosed it
has purchased a supply chain company in a bid to expand its
operations.
ATSC told the Philippine Stock Exchange that its
wholly owned subsidiary Aboitiz One Inc. (Aone) has acquired
Scanasia Overseas Inc. for $8.4 million.
Scanasia is engaged in the business of salesa,
marketing, warehousing and transpor-tation of
temperature-con-trolled and ambient food products to its customers
in the Philippines.
Under the agreement, Aone will acquire 100
percent, or a total of 3.97 million shares in Scanasia at a par
value of P1 each from Carsten Pedersen, a Danish national. The share
purchase will be closed on June 18.
“The said acquisition is in line with
Aone’s business strategy to provide total supply chain solutions
to clients and to further improve the effectiveness and efficiency
of its delivery services,” Aboitiz Transport said in its
disclosure.
Enrique M. Aboitiz, ATSC president, said the
company has set aside between P800 million and P850 million for
capital expenditure this year, which it will raise through
internally generated funds and sale of assets, to fund expansion.
From January to March, ATSC posted a net loss of
P36.1 million, higher by 49.8 percent from P24.1 million in the same
period last year.
The company’s total consolidated revenues
during the quarter amounted to P3 billion, a 17-percent improve-ment
from P2.5 billion in the same period last year.
Total costs and expenses of ATS went up by 20
percent mainly due to higher fuel and charter-related expenses.
ATSC operates runs the country’s largest
passenger and cargo shipping business, SuperFerry, an express
delivery service, 2GO and a cold chain.
-- Darwin G. Amojelar
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