Uy’s Chelsea buys another logistics firm
CHELSEA LOGISTICS Holdings Corp. (CLC) has acquired domestic logistics firm Worklink Services, Inc. (WSI), as part of its continuing expansion.
In a statement, the firm led by Davao-based businessman Dennis A. Uy said it acquired 100% of the issued and outstanding shares of WSI on Nov. 8.
Established in 1994, WSI is a private company that provides courier, forwarding, trucking, and logistics services in the Philippines.
“WSI will augment our logistics and manpower businesses as well as create additional synergy within the group,” CLC President and CEO Chryss Alfonsus V. Damuy said in a statement.
In a separate statement, CLC said it finalized the acquisition of domestic shipping firm Starlite Ferries, Inc. and its subsidiaries. This after it received clearance from the Philippine Competition Commission (PCC) that its buyout of Starlite will “not lead to a substantial lessening of competition in its relevant market.” —