HITACHI Transport System, Ltd. (herein called HTS) agreed with DIC corporation (herein called DIC), a leading manufacturer of printing inks and organic pigments and plastics etc., that Hitachi Finenext Transport System Co., Ltd. (herein called Fine), a subsidiary of HTS, will acquire 41.86 %
stocks of DIC Express Co., Ltd. (herein called DICE) which is a DIC's logistic subsidiary in Hong
Kong. Fine has already held 48.14% stocks of DICE, and the percentage will become 90% by this acquisition. Therefore, DICE and DIC Logitech China Co., Ltd. (herein called DLCC), DICE's subsidiary in China, will become HTS Gr. subsidiaries.
From January, 2012, these two companies will change their name, one is from DICE to "Fine
Chemical Logistics Hong Kong Co., Ltd.", another is from DLCC to "Fine Chemical Logistics China
Co., Ltd.", and start their operation under the new organizations.
DIC has already outsourced Japanese logistic operation to HTS Group since January, 2011, and Fine dedicates to provide chemical logistics services for DIC in Japan. HTS Group will utilize the new companies to expand chemical logistics services in China by collaborating with existing Chinese companies of HTS group for promoting rationalization of operations. Also, HTS will
enhance the service quality, and support DIC's business expansion in China.
DLCC holds a hazardous transportation license which is very difficult for foreign companies to get it, also very rare among Japanese logistic companies in China. HTS Group would like to utilize this license and skills to promote platform business in chemical industries for other manufacturers.
HTS will continue to enhance the logistics network and platform business, and improve the service quality for expanding the global logistics business.