EXEL ANNOUNCES STRATEGIC MOVE INTO CENTRAL EUROPE WITH ACQUISITION OF GERMAN LOGISTICS COMPANY
EXEL ANNOUNCES STRATEGIC MOVE INTO CENTRAL EUROPE WITH ACQUISITION OF GERMAN LOGISTICS COMPANY
22 January 2001
LONDON (Jan. 22, 2001) — Exel, the world leader in supply chain management solutions, announced today the acquisition of Werthmann+Köster, a German automotive logistics provider. The acquisition significantly strengthens Exel’s Automotive Worldwide division in Germany and provides increased development opportunities for its business activities in Central Europe.
Werthmann+Köster, founded in 1901, has around 375 full-time and a pool of 850 part-time employees and offers comprehensive supply chain solutions for leading car manufacturers and suppliers such as Volkswagen, Audi, Skoda, Karmann, Volvo and Faurecia. In Germany, the business has operations in Meinerzhagen, Offenau, and three in the Kassel area, in Waldau, Kaufungen and Baunatal. In the Czech Republic, the company has an office in Prague and operations for Skoda and Faurecia in Mlada Boleslav.
The acquisition is of strategic importance for Exel, coming at a time when increased globalization has led to growing demand from customers for global end-to-end supply chain solutions, particularly linking in the emerging markets of central and eastern Europe. Exel already has strong relationships with Volkswagen in Mexico and Spain, which will be enhanced by this acquisition. Exel has been working with Werthmann+Köster for the past two years. Dr. Katrin Ollech, joint managing director of the business, has agreed to remain with Exel to develop the business in the region.
Commenting on the announcement, Leigh Pomlett, Exel’s President Automotive Worldwide said, “The acquisition of Werthmann+Köster is a key global strategic move for Exel. Germany and the Czech Republic are important markets for the group and the combined skills of Exel and Werthmann+Köster provide the perfect platform for growth in the region.”
John Allan, Chief Executive of Exel, added: “Our long standing relationship with Dr. Ollech and her team gives us confidence that this acquisition will bring significant benefits to the automotive business and strengthen our customer relationships. Supply chain developments in the automotive industry are moving quickly and we are ideally positioned to capitalise on our increased capabilities.”
Ollech added: “The high competence and flexibility of the Werthmann+Köster Automotive Group combined with the global market presence and financial strength of Exel is a win-win situation for all parties concerned.”
About Exel
Exel plc is a global leader in supply chain management, providing customer focused solutions to a wide range of manufacturing and retail industries. Exel’s comprehensive range of innovative logistics solutions encompasses the complete supply chain from design and consulting through freight forwarding, warehousing and distribution services to integrated information management and e-commerce support services for business-to-business and business-to-consumer markets.
Exel, a UK listed FTSE-100 company, has sales of over $5 Billion (1999) and employs more than 50,000 people in 1,300 locations in over 120 countries worldwide. Exel’s customers include two-thirds of the world’s 250 largest non-financial companies. More information is available at www.exel.com.
