SATS in “ongoing discussions” over potential WFS acquisition
22 / 09 / 2022
Photo: WFS
Singapore-based handling company SATS has confirmed it is in “ongoing discussions” regarding a potential acquisition of cargo handler Worldwide Flight Services (WFS).
SATS said in a press release on September 21 that no formal agreement has been made yet.
“While the company is in ongoing discussions regarding a potential acquisition of Worldwide Flight Services, no definitive terms or formal legal documentation (including the consideration) have been agreed upon,” said SATS.
It added: “One of SATS’ strategic priorities is to expand its network and capabilities in Asia and across the globe. The company is therefore constantly on the lookout for acquisition opportunities.
“Discussions concerning the potential acquisition are developing and there is no certainty that it will proceed or will materialise.”
Paris, France headquartered WFS has itself been pursuing growth and acquisition opportunities.
Last year the company made two acquisitions in the US, taking over Pinnacle Logistics in September and Mercury Air Cargo towards the end of the year.
The company also purchased French handler R.A.Hand in August last year.
Based at Changi Airport, SATS provides food and gateway services for customers including airlines, cruise lines, freight forwarders, postal services and e-commerce companies.
Its gateway services include ground handling services incorporating air cargo.
SATS is active in China, India, Japan, Malaysia and the Middle East.
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