COPENHAGEN, April 28 (Reuters) - Danish freight company DSV plans to continue its South American expansion with a new business in Costa Rica, focusing on air and sea freight-forwarding services.
DSV was founded by 10 truckers in 1976 and has grown to become the world’s sixth-largest freight forwarder through a string of acquisitions, the last big deal being its purchase of ABX Logistics for 750 million euros ($820 million) in 2008.
Comforted by its success in South America over the past three years, DSV will continue its expansion in the region, starting with a new company in Costa Rica, Chief Executive Jens Bjorn Andersen said in a statement on Tuesday.
DSV made 8 percent of its revenues in the Americas last year but 17 percent of its operating profit. It earned 2.6 billion Danish crowns ($380.8 million) in operating profit on revenue of 49 billion crowns in 2014, according to its annual report, in which it singled out the Americas as a growth driver.
The Copenhagen-based company reports first-quarter results on April 30. ($1 = 0.9157 euros) ($1 = 6.8275 Danish crowns)
Reporting by Ole Mikkelsen; Editing by David Goodman