APL Logistics targets aggressive expansion

Neptune Orient Lines is spending $150 million to try and get its logistics business turnover above the $3 billion mark.

APL Logistics, part of Singapore's Neptune Orient Lines NOL, hopes to manage the supply chains of some of the world's biggest companies. It's going to have to if the business' revenues are going to match those of the APL Container Shipping operations in three years' time, as planned. In 1999, APL Logistics accounted for $372 million, or 9%, of NOL's $4.28 billion revenues, while APL Container Shipping contributed $3.29 billion.

To achieve its target, NOL will invest $150 million over the next three years in APL Logistics. The funds will come from the $500 million raised in a July 1999 placement of 447.5 million shares at S$1.90 $1.09 each. Since April, NOL...

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