Austrian Post in exclusive talks to buy German firm trans-o-flex
Austrian Post announced today that it is in exclusive negotiations to buy German express firm trans-o-flex, its European parcels cooperation partner. The stock exchange listed Austrian postal operator said it was in talks with the company’s current owners, the private equity funds of Odewald & Compagnie and the Alpha Group. No further information was released.
In 2005, trans-o-flex generated revenues of some €460 million and carried about 49 million shipments. It has a strong position in the German express sector, particularly in the life sciences / healthcare markets. Austrian Post, with turnover of more than €1.7 billion in 2005, aims to develop its B2B parcels services, particularly in Central and Eastern Europe, in addition to its established B2C retail delivery services.
Austrian Post and trans-o-flex agreed a wide-ranging cooperation deal at the end of 2005 following earlier speculation that the postal operator wanted to buy the expanding German specialist logistics company.
Under the cooperation agreement, Post Austria joined the trans-o-flex Eurodis network, providing parcel delivery services in Austria and various south-eastern European countries where it has subsidiaries. In return, Trans-o-flex distributes the Austrian post office’s parcels in Germany. The Eurodis network covers about 20 European countries through a range of partnership agreements.
