Nebraska-based trucking and logistics company Werner Enterprises said Friday its Werner Global Logistics subsidiary has signed an agreement in principle to make an equity investment in Hercules Logistics, a logistics and asset-based transportation company headquartered in Shenzhen, China.
Hercules, founded in 2001, is one of the largest and fastest growing logistics companies in China, according to Werner and is recognized as one of the top 100 logistics companies in the country. Hercules provides logistics and transportation services in the areas of long haul and port dray trucking services, forwarding and freight management, contract logistics, integrated supply chain, warehouse distribution and customs brokerage.
“Throughout the last six years, we have expanded our business relationship and worked closely with Ken Mei, chairman and CEO of Hercules, and his management team. We understand the needs of our customers to better manage their supply chains involving the Asian market, as well as their desire to further expand into China’s growing domestic market,” said Derek Leathers, Werner’s president and chief operating officer “The strategic and operational fit between Werner and Hercules creates a compelling asset-based solution to our customers’ needs.”
Werner entered China’s transportation and logistics market in 2006 when Werner Global Logistics, Shanghai Company was formed. The combined network of Werner Global Logistics and Hercules will represent more than 20 office, warehouse and logistics centers in China and a combined network of over 1,000 trucks operating in China and approximately 7,100 trucks and over 23,000 trailers operating within North America.
“We see significant opportunities to serve our diverse customer base, particularly in North America, with Werner as an integrated part of our global network,” said Ken Mei, chairman and CEO of Hercules.