-- Fiege Forwarding's subject matter experts join AIT teammates to provide harmonized supply chain services by leveraging a widespread global network across Asia, Europe and North America Global supply chain solutions leader AIT Worldwide Logistics entered into a binding purchase agreement at the end of last week to acquire Germany-based FIEGE Group's international freight forwarding division, Fiege Forwarding. Photo - https://mma.prnewswire.com/media/1388478/Hi_Res_AIT_Aquisition_Fiege.jpg Logo - https://mma.prnewswire.com/media/587945/AIT_Worldwide_Logistics_Logo.jpg The acquisition dramatically increases AIT's global footprint by adding locations in Belgium, China, Germany, Italy, the Netherlands and Switzerland. Fiege Forwarding teammates are known for their strong command of air and ocean shipping to and from Asia and Europe, with specialized subject matter expertise in the e-Commerce, healthcare and industrial sectors, including aircraft-on-ground (AOG) services. According to AIT President and CEO, Vaughn Moore, the two companies have been working together for years as partners. He said, "We couldn't be more delighted to welcome the experts from Fiege Forwarding as our newest AIT teammates. The long-running mutual partnership between our two teams has created a solid foundation of trust that helped finalize the deal." Moore added, "As a natural extension of our partnership, this acquisition will allow us to strategically expand our combined scope around the world. We share similar cultures and a likeminded business approach with a focus on growth and delivering expert solutions that drive a world-class customer experience." Geographically, AIT's prominence in North America is augmented by Fiege Forwarding's European coverage. The companies' two networks in China are also complementary: AIT-Asia's robust transpacific supply chain services are balanced by Fiege Forwarding's trade lane expertise between Asia and Europe. These newly created synergies form a more powerful and diversified worldwide network, helping AIT to remain well-positioned with its global customer portfolio. AIT's Chief Operating Officer, Keith Tholan, said, "As AIT has grown over the past several years, we're serving more multinational customers with increasingly global supply chains. As a result of our newly expanded worldwide network, AIT now has full-time logistics professionals in more economic powerhouse locations than ever before. With this acquisition, we have improved the alignment of AIT's support in regions with the highest demand from our global customers." "We are very enthusiastic about the deal, as the transaction enables the merge of two extremely complementary networks, that will empower the previous Fiege Forwarding business to grow even further and opens extended services with an even larger network to our customers," said Felix Fiege, CEO of the FIEGE Group. As part of the acquisition, Fiege Forwarding's Michael Völlnagel has been appointed as AIT's Vice President, Europe. AIT Worldwide Logistics' acquisition of Fiege Forwarding is expected to be finalized by December 31, 2020. Terms have not been disclosed. About AIT Worldwide Logistics AIT Worldwide Logistics helps companies grow by expanding access to markets all over the world where they can sell and procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based transportation management leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, e-commerce, food, government, healthcare, life sciences and retail. Backed by scalable, user-friendly technology, AIT's flexible business model delivers precisely tailored supply chain solutions for sea, air and ground freight—on time and on budget. With expert teammates at more than 90 worldwide locations in Asia, Europe and North America, AIT's full-service options also include customs clearance, warehouse management and white glove services. Learn more at www.aitworldwide.com. Our Mission At AIT, we vigorously seek opportunities to earn our customers' trust by delivering exceptional worldwide logistics solutions while passionately valuing our co-workers, partners and communities. About the FIEGE Group The Fiege Group, headquartered in Greven, Germany, is one of Europe's leading logistics providers. Its competence lies particularly in the development and realization of integrated supply chain systems, and it is considered a pioneer of contract logistics. In 2019, the Group generated a turnover of Euro 1.7 billion worldwide with a workforce of 19,000 people. 150 locations and co-operations based in 14 countries form a dense supply-chain network. 3.3 million square meters of warehouse and logistics space vouch for the company's efficiency. MEDIA CONTACT: Matt Sanders Senior Copywriter +1 (630) 766-8300 msanders@aitworldwide.com AIT Worldwide Logistics, Inc. Corporate Headquarters 701 N. Rohlwing Road Itasca, IL 60143 +1 800-669-4AIT (4248) www.aitworldwide.com SOURCE: AIT Worldwide Logistics, Inc.