Sabah – Hitachi Transport System, the transportation and logistics unit of the century-old Japanese conglomerate, has entered the Turkish market through a stake acquisition from one of the leading local logistics companies, Mars Lojistik.
The companies have agreed to the sale of 51 percent shares to Hitachi, according to a statement by the Japanese company, without disclosing the financial details of the deal. The deal, to be completed by October, opens the door to a logistics market of about USD 50 billion for Hitachi which is currently in the process of expanding its global business.
Mars Lojistik, which is well-established with a 1000-truck fleet, will help the Japanese company reach new markets in the Middle East and North Africa.
An increasing number of Japanese multinationals, many of them newcomers, have been investing in a variety of sectors in Turkey in recent years. Yusen Logistics, another logistics services provider from the Far Eastern nation, established its own company in Turkey last year.
Besides having a large domestic market, Turkey’s strategic location between the large land masses of Europe , the Middle East and Central Asia makes the country the ideal transport junction for international logistics companies.