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|Ryobi Vietnam scooped up nearly 24 per cent stake of Transimex|
On December 14, Casco Investments Ltd. has offloaded its entire stake at Transimex to Ryobi International Logistics Vietnam.
In a report to the State Securities Commission and the Ho Chi Minh City Stock Exchange, Ryobi Vietnam said it bought nearly 16.8 million TMS shares on the day, replacing Casco as the largest shareholder of Transimex.
Ryobi Vietnam, a member of Japanese transportation company Ryobi Holdings Co., Ltd., was established in September 2014. Ryobi Holding is looking to expand logistics with high-quality in ASEAN, including Vietnam, Myanmar, and Thailand. The group opened its first representative office in Vietnam in 2012. Ryobi (Vietnam) Distribution Service was set up in 2015, which is a 2-storey multifunctional warehouse system. Covering a total area of 24,000 square metres, it boasts cool and cold storage in Saigon Hi-Tech Park in District 9, Ho Chi Minh City.
The Japanese group has close connections with Transimex which took up a $4 million loan from Ryobi Holdings to develop a bonded warehouse and logistics service project at Saigon Hi-Tech Park.
In May 2019, Ryobi Holdings acquired a 35 per cent stake of Amerasian Shipping Logistics (ASL), a freight forwarding and logistics company, for an undisclosed amount. The investment aims to develop the cold chain logistics segment in Vietnam.
In the next 3-5 years, Ryobi Holdings plans to invest in ASL to develop the cold transportation, storage, and distribution of agricultural and seafood products, both in Vietnam and across Southeast Asia. Meanwhile, ASL will focus on developing refrigerated containers and trucks and handling customs declaration and international carrier procedures to transport goods from Vietnam to Southeast Asia and Japan.