Palletways Germany and VTL cancel merger plans
Palletways Deutschland and Vernetzte Transport Logistik (VTL) have called off merger plans.
Palletways Deutschland MD Abraham Garcia Martinez said: “We were forced to recognise that we were unable to reconcile the interests of both sides in some major detailed issues.”
Hakan Bicil, international division chief executive at Palletways parent company Imperial Logistics, said: “We’ve not succeeded in reaching agreement about the underlying conditions for a new, common network structure”.
The plans to merge both networks began in June 2019. The merger of the two networks was designed to create smaller delivery regions.
The initial plan for the merger was for Palletways to take a 20% minority holding in VTL, with the possibility of turning the stake into a majority holding in the medium term.