LINX Cargo Care Group has invested in the future of its Autocare Services business via the acquisition of the remaining minority shareholding from its joint venture partner, NYK Line, effective 1 May 2019.
With 100% ownership of Autocare moving forward, LINX CCG is to have complete autonomy to further invest in the business’s facilities and assets and enhance its national service offering.
Autocare specialises in shore-to-door services to the automotive sector. Its car carrying capability and integrated network of storage and processing centres, enable Autocare to handle more than 1m vehicle movements a year, process over 600,000 vehicles per annum and store up to 80,000 vehicles nationally.
LINX Cargo Care Group CEO, Anthony Jones, believes full ownership is a positive step.
“Acquiring NYK Line’s minority shareholding, allows LINX CCG to optimise our internal inter-business synergies and put everything we have behind Autocare Services’ future growth and success,” Mr Jones said.
“Our customers and our people are the primary beneficiaries of this exciting development as we focus on delivering service excellence and business sustainability for years to come,” he said.
“LINX CCG thanks NYK Line for its support and looks forward to continuing our great partnership across the automotive logistics supply chain.”
Autocare was founded in 1961 and acquired by Patrick in 1996. Autocare Services is now part of LINX CCG, which was formed following the separation from Patrick and the ASX-listed Asciano group of companies in 2016.