K+N acquires Estonian forwarding company
published: cw 12, 2006 in Mergers & acquisitionsIn a bid to expand its overland activities in the Baltics, Swiss logistics firm Kuehne + Nagel (K+N) has acquired the Estonian forwarding company EM Trans and its subsidiaries, with retroactive effect from January 1, 2006.
EM Trans specializes in road transport and in 2004 recorded revenues of over E10 million. K+N said that the acquisition represented a further step in its aim to establish a Europe-wide overland network.
Ewald Kaiser, member of the management board of K+N International, said, “This takeover marks a further step in our strategy to establish a Europe-wide overland network.
“Integrating EM Trans into the group’s structure will enable us to optimize processes and take advantage of additional cross-selling potential. Furthermore, it will allow us to offer our customers full access to the Kuehne + Nagel overland network across the Baltic States.”
Within the scope of the agreement, all EM Trans operations and employees will be integrated into the respective Kuehne + Nagel national companies.
Further details of the transaction were not disclosed.
Source: Logistics Business Review
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