Allcargo Logistics arm forms JV with Swedish firm to expand in Europe

Acquires 65% stake in JV to become market leader in Nordic region, continue its focus on offering multi-modal digital logistics services

Allcargo Logistics Ltd’s wholly-owned arm Allcargo Belgium NV has signed a definitive joint venture agreement with Swedish logistics company Nordicon Group.

Nordicon Group is a market leader in Nordics in Less-Container-Load (LCL) and rail consolidation, said Allcargo in its release today.

Allcargo Belgium, which operated ECU Worldwide, will hold a 65 percent stake in the JV, while the remaining would be held by the owners of Nordicon, Allcargo Logistics said.

With this strategic investment, ECU Worldwide will now be a market leader with a near 40 percent market share of the LCL business in the Nordic region.

“The partnership with Nordicon is in line