DSC Logistics has completed the transfer of majority ownership to CJ Logistics, based in Seoul, South Korea, and operating in 33 countries. DSC’s intent to join with CJ Logistics was announced June 7, and the transaction closed on August 24, 2018, an occasion marked by a celebration at the company’s corporate offices in Des Plaines, Illinois.
“We are very pleased to launch DSC into the global marketplace by becoming part of CJ Logistics,” DSC CEO Ann Drake said. “We are excited about the opportunities and continuity this will provide for our customers and employees.”
Ann Drake will remain as Chairman of the DSC Advisory Board and retain minority ownership. The company’s senior leadership will remain in place, with Ed Bowersox as President, David Copeland as Chief Financial Officer and Kevin Coleman as Chief Customer Officer, and corporate offices will remain in Des Plaines.
DSC was founded as Dry Storage Corporation in the upper floor of a former stockyards building on Chicago’s south side by Jim McIlrath, Drake’s father, in 1960. Drake joined the company in the 1990s to build DSC Logistics, a future-focused company based on strategic partnerships, thought leadership and high-performance operations. Becoming part of CJ Logistics begins a third, exciting new chapter in the company’s story of 58 years of growth and change.
“As I learned more about CJ Logistics, and the potential we have to advance supply chain thinking and innovation together, I began to see that this was truly the right fit at the right time,” said Drake. “This was the best way to launch DSC into the forever future.”
Keun Tae Park, CEO of CJ Logistics, said, “Combining DSC’s expertise and leadership in the US with CJ Logistics’ high-tech based solutions and global network, we are confident that we will be able to grow and become the preferred global SCM innovator in the US and ultimately a global top five logistics company.”
Now as one company, DSC and CJ will be able to provide extended global services to DSC’s customers by supporting international freight forwarding, cross-border transportation, global operations and expanded omnichannel fulfillment capabilities. Dedicated to delivering customer value, DSC will continue to emphasize collaborative partnerships, innovative thinking and high-performance operations.
“Both companies value supply chain talent and leadership, and we both believe in harnessing the power of change to achieve customer business goals,” Drake said. “Together, we are moving ahead as a Global SCM Innovator.”