Finland Post To Buy Norwegian Universal Spedisjon
Finland Post Group said on July 10, 2006 it would acquire Norwegian logistics firm Universal Spedisjon AS from the two families owning it.
No financial details were available.
The transaction is subject to approval by the Norwegian Competition Authority. It will not affect Universal Spedisjon’s staff of 75.
The acquisition will complement the logistics service network of Finland Post Logistics unit in Scandinavia, the Baltic countries and Russia.
Universal Spedisjon (www.unisped.com) provides cargo, forwarding and contract services in Norway and through its partner companies in the rest of Europe. The company has service outlets in Oslo, Kristiansand, Stavanger, Trondheim and Bergen. Universal Spedisjon generated net sales of 44 mln euro (56.4 mln USD) in 2005.
Finland Post’s Logistics unit provides consulting and contract logistic services, including transportation, warehousing and terminal services, as well as forwarding, customs and IT services mainly in Scandinavia, the Baltic countries and Russia. The unit employs nearly 1,400 in Sweden, Denmark, Norway, Estonia, Latvia, Lithuania, Poland and Russia, and has annual net sales of 510 mln euro (653.3 mln USD).
