GKE to acquire TNS Ocean Lines for $9 mil

SINGAPORE (Oct 28): GKE Corporation, the integrated warehousing and logistics solutions provider, has entered into an agreement the vendors of TNS Ocean Lines (S) to acquire 100% ownership of TNS for a purchase consideration of $9 million.

Established in 1995, TNS is engaged in the business of providing stevedoring and lighterage services, lashing, wharf operation services and transportation of mariner materials by sea.

Neo Cheow Hui, CEO and Executive Director of GKE, says, “Our expansion into port operations through the acquisition of TNS, a profitable and established port operations & logistics service provider, will strengthen GKE’s earnings base and further expand our logistics services as port operations is the first and last landing points for the import and export of goods.”

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