Großbeeren, September 12, 2023: The Rieck Logistics Group is acquiring 45% of the shares in TANDEM Holding (HK) Limited with retroactive effect from January 1, 2023. At the same time, TANDEM Holding (HK) will acquire 51% of the shares in Rieck Sea Air Cargo Shanghai (RSACI); 49% of the shares will remain with Rieck. This creates the new company TANDEM Rieck Shanghai Co. Ltd, which has nine other branches in China in addition to its headquarters in Shanghai. “With these two transactions, we are strengthening our global commitment and in particular our business in China,” says Philipp Strenge, Managing Partner of the Rieck Logistics Group. “In future, we will benefit even more from Indo-Pacific and trans-Pacific trade for the benefit of our customers.”
Independent logistics companies that offer air and sea freight services as well as high-quality logistics solutions for global supply chains work together under the TANDEM brand umbrella. The network is represented in over 80 countries with 200 offices and around 2,500 employees. The Rieck Logistics Group was one of the founding members in 2007, is a shareholder in the international network and, with its air and sea freight division RSACI, is the exclusive partner company for Germany.
In the new corporate structure of TANDEM Holding (HK), the Rieck Logistics Group and the US-based C.H. Powell Company now each hold 45% of the shares, while the Japanese Azuma Shipping holds a 10% stake. The management is made up of one representative from each of the shareholders: Philipp Strenge has been appointed as Board Director of TANDEM Holding (HK) for the Rieck Logistics Group, and Robert Powell (CH Powell) and Toru Tayama (Azuma Shipping) have also been appointed.
“With this transaction, we are sending a clear signal of our global entrepreneurial commitment,” says Philipp Strenge. “TANDEM Holding acts as the investment provider of the three partners for the operating business in Hong Kong and holds shares in the operating companies in India and China.”
Global commitment and new locations in China
The Rieck Logistics Group has been active in China for decades. RSACI in China has now become the operating company TANDEM Rieck (Shanghai) Co. Ltd, in which TANDEM Holding (HK) holds a majority stake alongside Rieck. TANDEM Holding (HK) holds a majority shareholding in addition to Rieck, which brings further branches into the company – the company is now represented (in addition to the headquarters in Shanghai) in Beijing, Dalian, Guanghzou, Kunshan, Ningbo, Qingdao, Shenzhen, Tianjin and Xiamen.
The Management Board of the new China company includes Philipp Strenge and Robert Powell (both for TANDEM Holding) as well as Shiye Zhou (for RSACI Germany). The former RSACI China manager Jecy Shen will take over the management of the new company. The strategic positioning will be handled by TANDEM Holding.
Benefiting from Indo-Pacific trade
The new structure has massively strengthened the business – resulting in many advantages for Rieck, but also for the entire Group. “In the new constellation, we have virtually doubled our volume and turnover,” says Philipp Strenge. “This will have an advantageous effect on the purchase of capacities from the carriers.”
The two transactions also strengthened the TANDEM network and further advanced the global focus of the company’s entrepreneurial commitment. “Our focus is shifting even more strongly from Europe to the Indo-Pacific region,” says Philipp Strenge. “Together with our partners, we will now further expand trade lanes between China and Southeast Asia, such as Vietnam, Singapore and Indonesia, as well as between China and South America. This will enable us to benefit even more from Indo-Pacific trade in the future.”
Good prospects: Whether Asean, CPTPP or RCEP1 – while protectionism is on the rise again around the world, new, important free trade zones for billions of consumers are emerging in Asia. Indo-Pacific trade is flourishing.
