20
March
2006
|
09:30
Europe/Amsterdam

Kuehne + Nagel expands overland activities in the Baltics

With retroactive effect to January 1, 2006, Kuehne + Nagel has taken over the book of business of Estonian forwarding company E.M.Trans ASand its subsidiaries. The acquisition enables Kuehne + Nagel to expand its overland activities in the Baltics.

E.M. Trans AS with headquarters in Tallinnis specialised in road transport and in 2004 achieved a turnover of EUR 10 million. With approximately 40 employees, the company operates subsidiaries in Vilnius/Lithuania, Riga/Latvia and Helsinki/Finland.

“This takeover marks a further step in our strategy to establish a Europe-wide overland network,” said Ewald Kaiser, member of the Management Board of Kuehne + Nagel International AG and responsible for Rail & Road Logistics. “Integrating E.M. Trans into the Group’s structure will enable us to optimise processes and take advantage of additional cross-selling potential. Furthermore, it will allow us to offer our customers full access to the Kuehne + Nagel overland network across the Baltic States.”

Within the scope of the agreement, all E.M. Trans operations and employees will be integrated into the respective Kuehne + Nagel national companies.

 

Both parties agreed not to disclose the purchase price.