OCEAN TO ACQUIRE LEADING SWEDISH AIR & SEA FREIGHT FORWARDER
Ocean Group plc, a world leader in global logistics, announces that it has
reached agreement for the acquisition of Aerocar Spedition AB, one of Sweden’s
leading air and sea freight forwarders. The deal is subject to contract and
to clearance by the competition authorities in Sweden.
Aerocar employs 85 people and turnover for 1999 is forecast to be c SEK 420m
(£31.5m). The business will be merged with the existing Swedish operations of
MSAS Global Logistics.
Ocean’s Chief Executive, John Allan said today, ‘MSAS has made a successful
entry into the Swedish market since it commenced operations in May 1998. The
planned deal with Aerocar will accelerate progress and create a powerful
combination of the MSAS Global Logistics network with a well established
Swedish company. This will give the resources and capability to develop the
services we provide to current and new customers.’
The acquisition is in line with Ocean’s strategy of achieving a top five
status in terms of airfreight forwarding market share in the world’s top 20
economies. Further details will be announced when the deal has been
completed.
For further information please contact:
John Allan, Chief Executive Tel: 01344 744363
John Coghlan, Finance Director Tel: 01344 744406
Tony Lascelles, Company Secretary and Tel: 01344 744409
Director of Corporate Affairs
Further information on Ocean Group plc and its businesses is
available on Ocean’s website: www.oceangroup.uk.com
