Mitsui USA, a wholly owned subsidiary of Mitsui & Co., Ltd., Japan, has invested in privately held Savi Technology Inc, through a $10 million investment in Infolink Systems Inc, a holding company and parent of Savi Technology.
"In today's competitive world, greater cargo efficiency and security means greater economic security overall, and this requires greater global collaboration among leading companies such as Mitsui and Savi to bring technology solutions to the supply chain marketplace," said Masahiko Tsumoto, Mitsui USA's senior vice president and general manager of Transportation Logistics Division. "Mitsui has been impressed with Savi's ability to rapidly innovate solutions based on proven real-time technologies, and we're eager to cooperatively offer these solutions to our broad customer base involved in global trade initially in Japan, then throughout Asia and worldwide."
Mitsui USA, based in New York as Mitsui's largest overseas subsidiary, is engaged in export, import, offshore trading and domestic businesses, and operates more than 90 consolidated subsidiaries and affiliated companies in the U.S. Annually, Mitsui moves billions of dollars of cargo of all kinds and shapes throughout the world, and provides tailored logistics services to thousands of customers, while maintaining close contacts with more than 100 logistics services providers, including ocean and air carriers, rail operators, trucking companies, warehousing companies, customhouse brokers and insurance companies.
"Mitsui USA and Savi have been collaborating for nearly a year and we're convinced that by working more closely together both companies can rapidly expand network coverage and user adoption of our solutions," said Rohit Verma, Savi's vice president of corporate development. "Mitsui's strategic insights and market relationships will help open up new business opportunities for Savi's RFID networks for real-time supply chain visibility, asset management, inventory optimization, and global supply chain security."