ECU Line Acquires 100% Interest in Econocaribe Consolidators

Econocaribe - One of the Largest LCL Cconsolidators in USA

Acquisition to Strengthen and Increase Presence in the US Market

Sep 27, 2013, 05:14 ET from ECU Line

SINGAPORE, Sept. 27, 2013 /PRNewswire/ --  ECU Line, part of the Avvashya Group, today announced the acquisition of 100% interest in Econocaribe Consolidators, a US based logistics company.

Econocaribe, incorporated in 1968, is today the 3rd largest LCL consolidator (NVOCC) in the US. With its headquarters in Miami, Florida, Econocaribe has 9 offices in the US and 22 receiving terminals throughout the US and Canada, as well as partners across the world. Econocaribe specializes in freight consolidation and FCL services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. They also offer import LCL/FCL transportation services from around the world into the United States and Puerto Rico.

Ecu Line has, in recent years, been working in the USA, engaging Econocaribe as its agent. This acquisition now enables Ecu Line to complete its service offerings, both in terms of global capabilities and coverage.  The acquisition also increases ECU's foot hold in the US market -- which, as we all know, is the #1 economy in the world.

Speaking about the acquisition, Mr. Shashi Kiran Shetty, Executive Chairman Avvashya Group, said, "Econocaribe has been our partner in the US and we have worked very closely with them.  They have an extremely efficient and capable management team that has taken the company to being amongst the top NVOCCs in the US. I am very happy that now they are a part of our family and we have now become truly a global MNC, which is a dream achieved".

Mr. John Abisch, President, Econocaribe Consolidators, said, "Myself and the Econocaribe family look forward to joining the ECU team.  Econocaribe has had the pleasure to be the USA agent for ECU for a number of years and I am confident our philosophies are aligned which should make for a smooth transition.   I expect both organizations will benefit from joining forces and allow us to provide a great environment for our employees and great service to our clients".

About ECU Line

ECU-LINE is a global NVOCC with headquarter in Antwerp, Belgium and is part of The AVVASHYA Group headquartered in India. With 190 offices in over 90 countries and more than 3000 employees, the company is one of the market leaders in its industry segment.

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