Merger of Waberer’s and Szemerey Transport approved

Waberer’s Logistics and Szemerey Transport to establish the largest, domestic freight services provider in Hungary
 
The Hungarian Competition Authority has approved the Waberer’s Logistics Ltd and Szemerey Transport Inc merger through the exchange of shares and stocks, taking place at the end of the last year. After the decision the two companies while retaining their own names, will continue to operate under a common ownership structure led by a unified management. The organizations merged their operational and sales departments into one department. Furthermore they optimized the previously separately introduced equipments, storages and loading spaces, as well as procurement, IT and account management.
 
Hungary’s leading logistics enterprise (Waberer’s) and the market leader of domestic refrigerated freight and distribution services (Szemerey) together represent the largest, domestic freight power. The collaboration was realized through the exchange of shares and stocks: Waberer’s Logistics Ltd acquired 60% of Szemerey Transport Inc’s stocks, while Szemerey Transport gained control over 40% of Waberer’s Logistics. The companies – operating with a total number of 1,200 employees and 700 vehicles – made HUF 22 billion (EUR 75.2 million) sales revenues in 2012. By utilization of the synergies plan their goal is to increase by 10 per cent per annum in five years time. 

Quelle: LogEastics

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