BALtrans targets UK

FREIGHT forwarder BALtrans Holdings has invested $1 million for a 75 per cent stake in a joint venture in London. Air Action, a British air freight forwarder, will take the remainder in the company, named Baltrans UK.

Baltrans chairman and chief executive Anthony Lau said: 'The London office will make our global presence complete. As the economic development in Europe improves, we expect an upturn of the freight forwarding business there.'