DB Schenker takes over Finish road transport Croesus

Acquisition of Suomen Kiitoautot OY consolidates position of DB Schenker Logistics in the Finish market for procurement and distribution

On 12 January 2012 the Finish DB Schenker company Oy Schenker East Ab agreed to acquire the entire share capital of Suomen Kiitoautot Oy. The enterprise is a wholly-owned subsidiary of Kiitoautot Yhtiöt Oy. DB Schenker will acquire the entire operating business. Both companies have agreed not to disclose the purchase price.

Suomen Kiitoautot Oy and Schenker Cargo Oy, an affiliate of Oy Schenker East Ab, together make up two thirds of the Kiitolinja chain, specialising in domestic procurement and distribution in Finland. Following the signing of the agreement, Suomen Kiitoautot Oy will continue to operate in the medium-term as an independent affiliate in domestic land transport in Finland alongside Schenker Cargo Oy.

“With this acquisition, DB Schenker is strengthening its presence in Kiitolinja’s domestic land transport” said Karl Nutzinger, Member of the Management Board of Schenker AG responsible for Land Transport. “The acquisition consolidates Kiitolinja’s position at the top of the domestic land transport industry in Finland. We were offered a chance to preserve the structure of the Kiitolinja chain."

Suomen Kiitoautot Oy carries out Kiitolinja’s business operations in eastern and north-eastern Finland. Measured by revenue of roughly EUR 50.5 million in 2010, the company employing 441 staff members is one of the largest family-owned companies in the Finnish transportation industry.

DB Schenker ranks among the logistics market leaders in Finland. The company offers domestic land transport (via Kiitolinja), parcel services, home delivery (via Kiitolinja), European land transport, air and sea transport, exhibition freight forwarding, contract logistics, supply chain management and other services. With about 1,400 employees, DB Schenker generated approximately EUR 481 million in turnover in 2010 and delivered 3.5 million consignments and 2.8 million package shipments with a total weight of 3.5 million metric tons.

Quelle: LogEastics
Portal: www.logistik-express.com