PostNord acquires Green Cargo’s third-party logistics

PostNord and Green Cargo have signed an agreement for PostNord to acquire Green Cargo’s subsidiary Green Cargo Logistics including the associated buildings and real property.
 
Green Cargo Logistics provides third party logistics services in Sweden. The company has a total storage space of 260,000 sq m through premises in Stockholm, Norrköping, Gothenburg, Helsingborg and Copenhagen. In 2011, Green Cargo Logistics had net sales of approximately SEK1bn and an operating profit of SEK61m.
 
PostNord’s logistics operations in Sweden, Denmark, Norway, and Finland had net sales of approximately SEK13bn in 2011, weighted towards packages, pallets, and express delivery. The acquisition of Green Cargo Logistics strengthens PostNord’s third-party logistics operations, which is in line with the group’s strategic focus.
 
"Green Cargo Logistics is a well-managed and profitable business and an excellent fit with our strategic ambitions within the logistics area. The business will constitute a solid foundation for our continued development within third-party logistics," said Lars Idermark, President and CEO of PostNord.
 
As for Green Cargo the sale of Green Cargo Logistics means that the resources will be freed up for the development of Green Cargo’s rail transport operations. "This is an excellent deal for both Green Cargo and its subsidiary Logistics. Green Cargo will free up resources in order to develop our railway logistics and broaden our offer to the transport dependent Swedish trade and industry. Third-party logistics will get a strong owner which is a able to invest in its continued growth," said Mikael Stöhr, CEO of Green Cargo.
 
Green Cargo Logistics will become a part of PostNord’s business area Logistics and will be integrated into the PostNord brand name.

Quelle: eyefortransport

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