Kawasaki Kisen Buys US Distribution Firm

Kawasaki Kisen Kaisya Ltd., one of the major ship operators, announced that it has spent about 2 billion yen to acquire a 51% stake in Air Tiger Express Companies., making the US logistics firm a subsidiary. Air Tiger is the US-based logistics service provider with Chinese companies as its major customers. It employs 750 people and had sales of around 15 billion yen in 2009.