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.
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AIT Worldwide Logistics on Monday announced a firm agreement to acquire German-based FIEGE Group s international freight-forwarding division, the latest in a string of transactions implementing the company s expansion strategy.
The move increases AIT s global footprint by adding locations in Belgium, China, Germany, Italy, the Netherlands and Switzerland.
Itasca, Illinois-based AIT Worldwide provides a full suite of third-party logistics services, including international ocean and air freight management, customs clearance, domestic truck brokerage and warehousing. It specializes in supporting several industry verticals, including aerospace, automotive, e-commerce, health care and government agencies.
The privately held company has more than 1,200 employees and already operates offices in Canada, China, Hong Kong, Mexico, the Netherlands and Vietnam.