Finnish Post to acquire Combifragt logistics company
Finnish Post (Suomen Posti) Soome Post (Suomen Posti) is planning to acquire Combifragt, a logistics company with 140 million euros of sales operating in Denmark and via its subisidiaries also in Estonia, Latvia and Lithuania.
In cooperation with the present owners, operations of the company will continue as usual and changes in ownership will not affect either the company’s staff or daily work, Suomen Posti reported.
“The merger of Suomen Posti and Combifragt will create a new important operator on the North-European logistics market, aimed at developing strong domestic transport services and versatile international transport services,” Suomen Posti said.
Combifragt A/S operates on the Estonian market under the name of Combifragt Eesti OU. Sales of the company, which has a staff of seven, totaled 33.2 million kroons (EUR 2.1 mln) last year, the profit amounting to nearly 1.7 million kroons.
The deal on the acquisition of Combifragt is part of the Suomen Posti strategy of strengthening its position in Scandinavia, the Baltic countries and Russia. Approval by the Estonian, Latvian and German competition watchdogs is required for the deal to come into effect.
Combifragt provides transport and forwarding services, special logistics and warehousing services. The annual number of consignments amounts to 600,000 units. The company has a staff of 450.
(EUR 1 = EEK 15.65)
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