PIN Group Secures Nationwide Logistics
PIN Group has announced that its subsidiaries PIN mail GmbH (Dusseldorf) and PIN Logistics GmbH (Hamburg and Erkrath) has been sold to Xanto, a postal logistics service provider in Germany. The announcement was made by the insolvency administrator of the PIN-Holding, Bruno M. Kübler. Xanto had been a general service provider for PIN Logistics Ltd and by taking over the PIN Logistics GmbH independently Xanto will now direct contractual partners of the regional PIN companies and will continue to serve as a type of a hub for PIN-mail from all over Germany. “The acquisition of the two companies is an important step towards the preservation of PIN’s network,” said Kübler. “The outsourcing of logistics to experienced partner Xanto can with the reduced number of regional companies continue throughout Germany post. That was also essential in view of a “grand solution”, i.e. the possible sale of large parts of the PIN – Group to an investor.” The Dusseldorf-based PIN mail GmbH will be called Xanto mail GmbH and PIN Logistics GmbH will be called Xanto Logistics GmbH. The purchase price was not disclosed.
PIN Group has announced that its subsidiaries PIN mail GmbH (Dusseldorf) and PIN Logistics GmbH (Hamburg and Erkrath) has been sold to Xanto, a postal logistics service provider in Germany. The announcement was made by the insolvency administrator of the PIN-Holding, Bruno M. Kübler. Xanto had been a general service provider for PIN Logistics Ltd and by taking over the PIN Logistics GmbH independently Xanto will now direct contractual partners of the regional PIN companies and will continue to serve as a type of a hub for PIN-mail from all over Germany. “The acquisition of the two companies is an important step towards the preservation of PIN’s network,” said Kübler. “The outsourcing of logistics to experienced partner Xanto can with the reduced number of regional companies continue throughout Germany post. That was also essential in view of a “grand solution”, i.e. the possible sale of large parts of the PIN – Group to an investor.” The Dusseldorf-based PIN mail GmbH will be called Xanto mail GmbH and PIN Logistics GmbH will be called Xanto Logistics GmbH. The purchase price was not disclosed.
