Dennis Uy’s Chelsea buys local courier

Newly listed Chelsea Logistics Holdings Corp. (CLC) has acquired 100 percent of local logistics firm Worklink Services Inc. (WSI), boosting its end-to-end transport services.

“WSI will augment our logistics and manpower businesses as well as create additional synergy within the group,” CLC president and chief executive Chryss Alfonsus Damuy said.

Established in 1994, WSI provides courier, forwarding, trucking and logistics services, covering a wide range of merchandise goods such as documents, food, garments and industrial equipment.

The acquisition is seen in line with ongoing efforts to expand CLC’s operations and subsequently create more value for customers, investors, partner-communities and other stakeholders.

Of the fresh capital raised from its initial public offering, CLC has earmarked P3.2 billion for acquisition of other shipping and logistics firms. —DORIS DUMLAO-ABADILLA