KN acquires RH Freight and achieved new record levels in 2010
Kuehne + Nagel exceeded pre-crisis figures in the 2010 business year and shines with sea and air freight
Kuehne + Nagel announced yesterday the acquisition of the shares of the British Rennies Investment Limited (RH Freight). The takeover of the national transport enterprise is in line with Kuehne + Nagel’s growth strategy and their objective to significantly expand their European overland network. RH Freight, headquartered in Nottingham, has been established 40 years ago and is the market leader for groupage freight between continental Europe and the UK. The company employs 630 staff across 17 locations in the United Kingdom and at two sites in Finland. Via its hubs in Nottingham and South East London, RH Freight handles 425,000 shipments per year and operates to 32 European destinations daily. Besides its core activities, RH Freight is also active in sea- and airfreight as well as contract logistics, and operates 30,000 m² warehousing space. “Due to its customer orientation, expertise and concentration on daily lines to European destinations, RH Freight fits ideally Kuehne + Nagel’s strategy to expand its European overland network and to offer its customers high quality overland products,” said Dirk Reich, Executive Vice President, Kuehne + Nagel International AG in charge of Road & Rail Logistics. “In addition, this acquisition is an important step for further improving Kuehne + Nagel’s position as an integrated logistics provider in the British market.” With approximately 57,500 employees at 900 locations in over 100 countries, the Kuehne + Nagel Group achieved new record levels in the 2010 business year, documented by a better development of business and results than in the pre-crisis period. Turnover increased by 16.4 per cent to CHF 20,26 million compared to the previous year. The operational result increased by 13.4 per cent to CHF 1.004 billion. Net earnings improved by 28.7 per cent to CHF 601 million compared to the previous year 2009. The sea freight business registered an increase in container volume of almost 16 per cent. The air freight business achieved 25 per cent increase in cargo volumes to almost 1 million tons, accompanied by new record levels in productivity. In the European overland transport market, the expansion of activities in the groupage, less-than-truckload and full-truckload businesses led to a 16 per cent rise in net turnover. In contract logistics business net turnover grew 5 per cent. Quelle: LogEastics |