Offshore acquisitions for Owens

Owens says it has acquired AFS Projects & Logistics of Brisbane, AFL Freight Management and Pacific Container Lines of Papua New Guinea and customs brokers Wyatt Soames of Sydney.

Chairman Norman Geary says the initiatives represent further growth for the company.

"All fit within the core logistics business activities of Owens global Logistics and will contribute to expansion, efficiency gains and integrated quality services in the logistics arena".

In addition to the new businesses the company has announced it has doubled it chilled product capacity in Los Angeles.

In Owens most recent financial result for the six months ended September last year profit fell 22% compared with the previous year to $1.44 million, although the company said the second half of the year had started well.

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