Grieg Logistics from Norway becomes part of Panalpina group
Panalpina group announces acquisition of the service providers for the oil, gas and shipping industry Grieg Logistics
The Panalpina group boosts its business by a company acquisition. In a press release the globally acting provider of transport and logistics services announces the takeover of Grieg Logistics AS from the Grieg group. The new acquisition is a leading Norwegian company in the field of logistics services, mainly for the oil and gas industry. Panalpina acquires 100 per cent of the shares of Grieg Logistics, subject to the approval by the Norwegian competitive authorities. The enterprise with around 100 employees at 14 locations covers the fields forwarding services, overland transport, warehousing, distribution and customs clearance. Both parties agreed to keep the purchase price confidential. The acquisition of the core business activities of Grieg Logistics increases the turnover of the Panalpina group by around NOK 400 million (CHF 67 million; EUR 52 million). The maritime services and port enterprises of Grieg Logistics are excluded from the sale. They will continue to act under the firm name Grieg Logistics AS after the transaction. The acquired company will be renamed and act under the firm name «Panalpina Grieg» in the transition period. The management of the Norwegian companies lies in the hands of Erik Hutter, who has been responsible for Panalpina customers from the oil and gas industry in the past nine years. The Grieg Logistics company was originally established in 1969 as a separate business segment of the Grieg group and is today a leading logistics service provider for the Norwegian oil, gas, sea cargo and shipping industry. It offers a wide range of products, logistics and forwarding services, as well as project development. Grieg Logistics has locations throughout Norway. Quelle: LogEastics |