Major telecommunications equipment maker Oki Electric Industry Co. said Wednesday it has acquired a controlling stake in Business Logistics (Thailand) Co. in a move to establish a logistics base in the Southeast Asian country.
An affiliate of Oki Electric, Oki Logistics Co., bought 19,600 shares, or 49 percent of Business Logistics' shares, from IBM Japan Business Logistics Co. on March 30. The Oki group now owns a 73 percent stake in the Thai company, with another affiliate, Oki Systems (Thailand) Ltd., holding 24 percent.