John Menzies Acquires Universal Air Cargo

LONDON (Thomson Financial) - Logistics company John Menzies PLC said Menzies Aviation, its aviation support services unit, has bought Universal Air Cargo Pty Ltd, an international wholesale freight forwarder.

Financial details of the deal were not revealed. The company said the business will be merged with Menzies Aviation's AMI business, a freight and express wholesaler.

'There are significant synergies with our existing AMI business which has made great strides in the last eighteen months. This acquisition provides an ideal platform from which to grow the business further,' said Menzies Aviation managing director Craig Smyth.

Universal Air Cargo, which operates in the US and Australasia, was previously privately owned and its reported gross assets as at June 30, 2006 was 4.08 mln stg.

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