ear Value Customers,
As you may know, UTi has announced we have signed a definitive agreement to be acquired by DSV, one of the leading logistics providers in Europe. We are excited to be joining a world-class organization and to be strengthening our business with a partner that shares a similar culture and strategic objectives. We are even more excited to announce this next step in our Company’s forward momentum with you. Positioned together and leveraging our combined strengths, we can yield a more nimble, efficient, and comprehensive service offering, bringing you solutions that we could not have delivered on our own.
The combined business will be stronger together, as we believe the transaction will:
· Enhance the geographic and business footprint for both entities, creating one of the world’s strongest transportation and logistics networks and the world’s fourth largest 3PL;
· Create a global CL network of over 5M square meters (55M square feet) of warehouse space;
· Create procurement scale with over 1.3M TEUs and 600K tons in air freight under management;
· Expand the reach of trucking services for our clients to Europe.
The combined company will deliver expanded services and solutions, an expansive market footprint and increased economies of scale, while maintaining a culture that is highly responsive to our client’s needs.
Most importantly, this announcement will not change anything about the way we interact with you and meet your needs. In the long run this will make us an even stronger partner for all of our clients. Delivering superior client service remains our #1 priority as we maintain our forward momentum. As always, we welcome your continued feedback on our execution and service. We are still in the very early stages of this transaction. The signing of this agreement is just the first step in the process. There are various conditions that have to be satisfied before the deal closes.
We are committed to transparent and open communications as we move forward in this process and look forward to bringing you with us into this exciting future.
If you have any questions about the announcement or what it means for UTi, I am happy to connect you with members of our management team.
Best regards,
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