Spanish Transportes Azkar To Co-Operate with German Rhenus

Spanish transport and packaging company Transportes Azkar, will co-operate with German transport company Rhenus, under a recently signed agreement between the Azkar’s logistics subsidiary Azkar Logistica and Rhenus, it was reported on April 3, 2003.

Rhenus will introduce operations in Spain and Portugal and Azkar will enter the northern European market under the agreement. Rhenus operates 60 offices in Germany and Switzerland and has a total workforce of 5,000. The company generated a 690 mln euro ($743 mln) turnover for 2002. [Editor’s note: Azkar posted earnings before interest, tax, depreciation and amortisation (EBITDA) of 39.6 mln euro ($42.7 mln) for 2002, up 2.0 pct year-on-year. The company posted a turnover of 253.7 mln euro ($273.3 mln), up 9.3 pct year-on-year, it was reported on February 28, 2003.] No further details were available.

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Source: Infomercados.com