The joint venture between COSCO SHIPPING (Europe) and Fratelli Cosulich successfully acquired TRASGO, an Italian logistics company, on January 8. This acquisition is a significant step in the development of COSCO SHIPPING's digital supply chain in Italy and Europe at large.

Established in 1986 in Novara, Italy, TRASGO is a leading integrated logistics company in Italy that offers comprehensive supply chain logistics services such as transportation, warehousing, customs operations, cargo handling, exhibition logistics, and installation. With its business expansion, TRASGO currently operates 14 warehouse facilities across five major regions of Italy, covering an area of 270,000 square meters. The company owns and controls more than 100 trailers, trucks, and 200 handling units. TRASGO provides a wide range of solutions for various industries, including automotive supplies, fast-moving consumer goods, electrical appliances, food and beverages, furniture, and more.

The successful acquisition of TRASGO is a crucial step for COSCO SHIPPING Europe in implementing the Group's digital supply chain development strategy and enhancing its comprehensive digital supply chain service capabilities in Europe.

With this acquisition, COSCO SHIPPING Europe aims to actively build a full-process digital supply chain service product and a green intelligent warehousing and distribution system. This move will contribute to COSCO SHIPPING's goal of establishing itself as a world-class shipping technology enterprise.

On January 10, Executive Vice President of COSCO SHIPPING Mr. Lin Ji attended the equity delivery ceremony and provided guidance for the future development of COSCO SHIPPING Europe. Relevant heads of the Strategy & Corporate Management Division and Operating Management Division of COSCO SHIPPING also attended the event.