July 12, 2005
Finland Post Logistics to establish its own delivery network in Europe Finland Post to acquire Combifragt of Denmark
Finland Post is to acquire Combifragt A/S, a logistics operator with net sales of approximately EUR 140 million, operating in Denmark and through subsidiaries in Estonia, Latvia and Lithuania. The business will continue as usual in close co-operation with the current owners and the acquisition will not affect its staff or operations.
This arrangement will create a new major operator in the Northern European logistics market, with the aim of developing solid national transport services, versatile international transportation services and comprehensive logistics solutions through co-operation.
Combifragt provides transport and forwarding services, special logistics services, for example for the alcoholic beverage industry and clothing industry, and service warehouse solutions. Combifragts home market comprises Europe, particularly the Nordic and Baltic countries. It belongs to the Nordic Chain co-operation network covering Denmark, Norway, Sweden and Finland. Combifragt transports its annual volume of shipments, 600,000 worldwide, mainly via its partner-operated network. The company employs 450 staff.
The acquisition contributes to Finland Posts strategy of reinforcing its operations in Scandinavia, Baltic Countries and Russia. Such co-operation enables Finland Post to provide its logistics customers with a comprehensive range of services for the global order-supply chain. Finalisation of the transaction is subject to approval by competition authorities in Estonia, Latvia and Germany.
In addition to transport services, Finland Post is strengthening its network of service warehouses. Therefore, in the spring of 2005 both AW-Store Oy and John Nurminen Oy's Fashion Logistics business became part of the Post's business. Moreover, September will see the introduction of a new warehouse terminal in Kotka, Finland, focusing on transit traffic to Russia.
Post Logistics is the most extensive logistics operator in Finland. Its operations focus on comprehensive logistics solutions combining the required electronic and physical services into ready, functional entities. Finland Post offers its customers extensive services for the entire order-delivery chain, both in Finland and its neighbouring regions, particularly the Baltic Countries and Russia. Post Group had a turnover of EUR 1 235,2 million in 2004, Post Logisticss share of which amounted to EUR 254,1 million.
For further information:
Managing Director Jukka Alho, Suomen Posti Oyj
tel +35840 736 7433
Senior Vice President Kari Savolainen, Suomen Posti Oyj
tel +35840 829 7708
CFO Vesa Vertanen, Suomen Posti Oyj
tel +35840 846 2753
Group Director Allan Mollerup, Combifragt A/S
tel +45 2999 8060
Managing Director Jorgen Hansen, Combifragt A/S
tel +45 2999 8020
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