NYK Line Establishes its 12th logistics company in Europe
January 29, 2002
NYK Line announced today that its affiliated company, NYK Holding Europe B.V., has established its 12th logistics company in Europe.
The new company, New Wave Logistics (Czech Republic) s.r.o. based in Ricany near Prague, will assume the distribution activities currently provided to Tesco, the No 1 UK retailer by its sister company, New Wave Logistics (Deutschland) G.m.b.H. Starting its operation from the 1st of January, 2002, it is expected the establishment of this new company will lead to an improved and more comprehensive range of services by being closer to the local market.. Additionally, it is hoped that it will lead to business opportunities with Japanese manufacturers with operations in the Czech Republic.
The establishment of the Czech company enables NYK Line to offer logistics services throughout most of Western and Eastern Europe
The new company will start with capital of CZK27,300,000. A Japanese managing director will be assigned in this new company in February, starting with 6 employees.