Kuehne + Nagel, Inc.
| Kuehne + Nagel strengthens presence in the oil & gas equipment transportation market |
| Jersey City, NJ/USA, February 15, 2008 – Kuehne + Nagel announced today that it has acquired Elite Airfreight Inc. in Houston, TX, a market leader in the oil & gas logistics arena. |
| Elite Airfreight has been an expert in the specialized oil & gas equipment transportation market since being founded 22 years ago. A core strength of Elite is its proficiency with the transportation of hazardous materials specifically for use within the drilling industry. Its 84 highly-trained employees are well-versed in all aspects of this regulatory-intense niche of international transportation. “This move opens the doors to a truly global network for our client base”, commented Larry Earley, Vice President of Elite. “I’m excited about the new opportunities afforded to both the Elite team and our customers”. Kuehne + Nagel established a division in Houston in 1977 specifically to provide logistics solutions for the oil & gas industry. The division has experience with movement of materials related to oil & gas exploration including off-shore rigs and drilling services, and has developed detailed knowledge of the best methods for shipping, discharging and overland transportation of the consignments. “The acquisition of Elite multiplies our specialist team knowledge and experience significantly and strengthens our position in the industry. It fits well with our strategy to expand our services and presence in the global oil & gas industry. Now that our two companies are combined we can offer unmatched expertise to our customers”, added Rolf Altorfer, President and CEO of Kuehne + Nagel, North America. Both parties agreed not to disclose the purchase price. |
About Kuehne + Nagel With more than 48,000 employees at over 830 locations in 100 countries, the Kuehne + Nagel Group is one of the world’s leading logistics companies. Its strong market position lies in the seafreight, airfreight, contract logistics, and overland businesses, with a clear focus on providing IT-based supply chain management services. For further information please visit www.kuehne-nagel.com. |
| Kuehne + Nagel, Inc. Daniel Cooke Director Marketing + Communications Tel: +1 201 413 5128 E-Mail: daniel.cooke@kuehne-nagel.com |
Corporate Communications Kuehne + Nagel International AG P.O. Box 67 CH- 8834 Schindellegi SZ Inquiries: |