AIT Worldwide buys customs broker Multimodal International
Acquisition to expand AIT’s entries volume by more than 10%, company says Less than a minute AIT acquires Multimodal International to expand brokerage footprint (Image: Jim Allen/FreightWaves
Global logistics company AIT Worldwide Logistics said Thursday that it has acquired Multimodal International Ltd., a customs broker that focuses on the processing and clearance of industrial commodities. Terms of the acquisition were not disclosed.
The acquisition is expected to boost Itasca, Illinois-based AIT’s annual customs entries by more than 10% a year to roughly 50,000 entries, AIT said. Elk Grove Village, Illinois-based Multimodal, which has been in business for nearly 40 years, focuses mainly on the automotive, machine tools, metals, electronics and chemicals sectors.