DHL Lithuania set to complete takeover of Danzas by November
The express and logistics company DHL International Lithuania hopes to complete the takeover of the freight transportation company Danzas by Nov. 1.
The merger is part of the strategy of Deutsche Post World Net (DPWN), which owns both companies, to place all of its worldwide express and logistics operations under the DHL brand. The financial value of the deal has not been disclosed.
“Similar processes of merging DHL and Danzas are underway across Europe,” Mindaugas Utkevicius, CEO of DHL International Lithuania, told BNS.
Set up in 1991, the courier and parcel express service provider DHL International Lithuania currently employs 70 people. Danzas, which offers a wide range of freight transportation and distribution services, employs 23 people.
The total number of employees will not change after the merger process is completed. Utkevicius will be the chief executive of the merged company.
DHL International Lithuania carried 159,000 parcels with a total weight of 600 tons last year. Danzas, which has been operating in this country since 1996, handled 11,000 shipments with a total weight of 27,000 tons in 2002.
DPWN-controlled companies posted total net profits of 2.42 billion euros on revenues of 39.3 billion euros last year.
