Itella to buy the Swedish Logistics Company PS Logistics AB
Itella is to buy the Swedish logistics company PS Logistics AB. The turnover of the company, located in Borås, is around SEK 80 million. It has 22 employees, whose positions won’t be affected by this deal. The vendor is a holding company owned by the company’s Managing Director Stefan Pettersson and Transekspedicija of Lithuania.
PS Logistics AB provides freight warehousing, storage and contract logistics services. The deal will strengthen the position of Itella Logistics AB in Sweden, particularly in freight bound for the Baltic States and Eastern Europe. The operations of Itella Logistics in Sweden will also be expanded to cover contract logistics.
“The home market of Itella Logistics covers the Baltic area, where we are currently one of the leading logistics companies. Buying PS Logistics will improve our market position in Sweden by strengthening our current business and by introducing new business areas. At the same time, we will strengthen our Baltic operations,” states Joni Sundelin, Vice President, Itella Logistics.
The company will transfer to the ownership of Itella Logistics on 1 August 2007.
In Sweden, the Itella Group currently comprises the transport and freight forwarding company Itella Logistics AB and the information logistics company Itella Information AB.
