Comany buys into Ace Freight

Sri Lankan blue-chip conglomerate Aitken Spence & Co will sell a 20 per cent stake in its Ace Freight Management freight-forwarding subsidiary to Comany, an offshoot of Japan's Comany Inc.

'Spence will handle all of Comany's freight-handling needs. The partnership is the ideal vehicle to expand our freight-forwarding business,' chairman Ratna Sivaratnam said.