04
October
2004
|
07:17
Europe/Amsterdam

Kuehne + Nagel strengthens overland activities in Scandinavia and Eastern

Retrospective to July 1, 2004, Kuehne + Nagel has taken over the Danish company GT Spedition A/S. The acquisition facilitates the expansion of Kuehne + Nagel’s road transport activities in Scandinavia and Eastern Europe as well as its industry-specific logistics services.

GT Spedition A/S, headquartered in Aalborg, ranks among the leading transport logistics providers in Denmark with an annual group turnover of around DKK 560 million. With 180 employees, the company focuses on national distribution and cross-border overland activities in Scandinavia, Western and Eastern Europe.

In Denmark, Norway and Sweden GT Spedition operates at seven locations. Across the growing markets of Latvia, Lithuania, Ukraine, Russia and Kazakhstan, the company is present with branch offices and provides industry-specific transport logistics solutions. Its logistics terminals with a total space of 32,000 sqm serve as regional cross-docking and warehousing platforms as well as to provide value-added services particularly to customers in the automotive and retail industry.

Dr. Lothar Thoma, responsible for Kuehne + Nagel’s European road activities, commented: “The combination of Kuehne + Nagel’s operations with those of GT Spedition places us in a position to offer competitive services across Northern and Eastern Europe. This acquisition is another step in our expansive overland strategy and optimally complements the service portfolio of the Kuehne + Nagel national companies in these regions.”

GT Spedition will operate as a wholly owned subsidiary of Kuehne + Nagel A/S. Karl Erik Thygesen, majority shareholder and managing director of Spedition GT A/S, considers going together with the Kuehne + Nagel Group as a benefit for both customers and the company. “We are convinced that this merger will allow us to extend our industry-specific service offering and accelerate growth.”

Both parties have agreed not to disclose the purchase price.