21
January
2004
|
08:27
Europe/Amsterdam

Kuehne & Nagel to acquire Overseas Logistics Division of the CAT Group

With effect from March 1, 2004, Kuehne & Nagel is taking over the Overseas Logistics Division of the CAT Group which has decided to focus on its core businesses automotive, vehicles and spare parts logistics. The acquisition facilitates Kuehne & Nagel’s expansion of its forwarding and project activities in France particularly, but also in Belgium and Mexico.

The CAT Group’s forwarding unit encompasses air- and seafreight, customs clearance and project business. Besides the Renault Group, suppliers to the automotive industry count among the customer base. The international project business mainly serves major French industrial customers and thus will enable Kuehne & Nagel France to strengthen its activities in this sector.

As part of the agreement, around 80 CAT employees will be transferred to the respective Kuehne & Nagel national companies. In agreement with existing customers, all current businesses and contracts will be taken over.

“Kuehne & Nagel has always focused on services for the automotive industry. The acquisition of the international forwarding business of the CAT Group makes it possible for us to globally strengthen the activities for this industrial sector and, above all, to expand in France,” says Reinhard Lange, COO International Forwarding and member of the Management Board of Kuehne & Nagel International AG. “Our customers will take advantage of our industry-specific know-how in combination with our global network and sophisticated information logistics products.”

The transaction is subject to the approval of the French antitrust authorities.

Both parties agreed not to disclose the purchase price.