SHAREHOLDERS of Aboitiz One, Inc. (Aone) have approved the company’s merger with wholly-owned subsidiary Aboitiz Logistics, Inc. (ALI) whereby Aone will be the surviving corporation.
Aone and ALI are the logistics arms of shipping firm Aboitiz Transport Systems.
Lilian Cariaso, chief information officer, in a statement said the merger is expected to further improve the effectiveness and efficiency of the delivery of services of Aone as a unified group.
Aone provides one-stop shop logistics solutions and transportation services. It is engaged in the business of air, land and sea transportation, such as but not limited to, the carrying and transporting of any and all kinds of goods and cargo, chartering, and acting as courier of mails, letters and pouches of all kinds. Through Aone’s various subsidiaries and affiliates, it provides seamless total logistics solutions to its customers via air, land and sea.
ALI provides various supply chain management and logistics services such as freight forwarding, container yard management, warehousing and distribution, as well as trucking.
For January to September 2006, ATS posted a net loss of P373.5 million and a 9% decline in consolidated revenues to P8.3 billion. This was due to the reduction in fleet capacity and a slack in the international charter business of its subsidiary, Jebsen management Ltd., as a result of unfavorable market conditions.