Home / Shipping / Aviation/ MAC Holdings acquires 50% equity of Finlays Linehaul Express

MAC Holdings acquires 50% equity of Finlays Linehaul Express


Comments / {{hitsCtrl.values.hits}} Views / Monday, 11 March 2019 00:00

Facebook

MAC Chairman and Managing Director Andre Fernando and Lenton Group CEO and Chairman Morty Langslow

In a transaction concluded on 25 February, MAC Holdings Ltd., a diversified group of companies which pioneers and is recognised as a market leader in global logistics, announced it acquired a 50% equity stake in Finlays Linehaul Express Ltd. from Finlays Colombo Ltd.. 

Launched in August 2008 as a joint venture between Finlays Colombo Ltd. and Linehaul Express (LINEX), Hong Kong based Logistics Company, Finlays Linehaul Express operates as the exclusive General Sales Agent for the wholesale courier operations of Cathay Pacific and Dragon Air. 

With this acquisition, MAC will expand their capability in delivering on their forte of ‘one-stop shop’ freight and logistics provider. The courier service offering enabled through this acquisition will provide enhanced value addition to the clientele of MAC. 

LINEX, the Joint Venture Partner of Finlays Linehaul Express, is the largest wholesale airport- to-airport express services provider in the world with a portfolio of Customs Brokerage, Airport-to-Door Services and Airport-to-Airport Services. This new partnership is geared to bring innovative and new solutions to the market and has already harnessed the e-commerce portfolio of LINEX as enhanced offering to the Sri Lankan market. 

The company’s fully comprehensive, global e-commerce logistics solutions provide cost-effective and reliable solutions facilitating e-commerce transactions. The hybrid channels of LINEX leverages the group’s strengths in linehaul services into the destination country and is able to inject directly into the cross-borders mail systems. Hence, a full range of cost effective parcel and post services will be available to the Sri Lankan market with these offerings.

Commenting on MAC’s acquisition of the equity stake held by Finlays Colombo Ltd., Lenton Group CEO and Chairman Morty Langslow stated that LINEX was looking forward to working closely with the new JV partner to bring innovative and timely services to the Sri Lankan Market.

Finlays Sri Lanka CEO and Country Head Gihan Jayasinghe stated: “This sale forms part of a strategic divestment process currently underway at Finlays Colombo to enable the company to better focus and grow its core tea-related businesses. We have had a wonderful and memorable partnership with the Lenton Group for the past 10 years and are confident that MAC together with the local team will continue to offer high quality and world class services to our numerous customers.” 

Further, MAC Chairman and Managing Director Andre Fernando said: “We are delighted to partner with the Lenton Group to enhance the services offered to our customers and excited with the opportunities presented with the expansion of logistics requirements of the Sri Lankan and regional markets.”


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Boycotting Muslim businesses and stoning offenders: Democracy fails when citizens fail to speak up

Monday, 24 June 2019

News was out last week that the Chief Prelate of the Asgiriya Chapter of Theravada Buddhism in Sri Lanka had made a controversial public pronouncement. I believe that he has mostly been misunderstood by his critics as well as his followers. The Vener


Perilous fear-mongering invades schools

Saturday, 22 June 2019

“It may be important to great thinkers to examine the world, to explain and despise it. But I think it is only important to love the world, not to despise it, not for us to hate each other, but to be able to regard the world and ourselves and all b


Laundering the Parliament

Friday, 21 June 2019

There are strict laws and rules in force to ensure the honesty and integrity of people’s representatives in all countries where there is a democratic system of governance. People’s representatives elected by public vote are prohibited to pursue b


SOFA/VFA: A worrying scenario

Friday, 21 June 2019

An unrestrained communal animosity towards ethnic and religious minorities, anchored in mythology and historical half-truths, and popularised by sections of the Buddhist clergy and a sectarian media have combined to drive Sri Lanka to a point where t


Columnists More