Growth underpins global expansion ambitions at Cycleon
Netherlands-based reverse logistics specialist Cycleon has achieved “tremendous” growth in the first six months of its 2011 fiscal year, it said today. The company is currently in the process of expanding into America and Asia, but has been given a strong platform by winning some key contracts this year in all its major customer segments – high-tech electronics, e-commerce and printing industries, including a number of multinational clients.
The growth is expected to take revenue at its parent group Reverse Logistics Group past the EUR 165m mark for the half, it said.
Cycleon, which has its head office in Utrecht, specialises in returns services including overstock and trade returns, product recalls and warranty returns, as well as “try and buy” shipping.
During the first half of 2011, the company rolled out its reverse logistics services beyond its pan-European network into the US, while it also made a start on the establishing of a network in the Asia-Pacific region.
Ernst Hoestra, the Cycleon chief executive, said: “These are great results for the Cycleon team, as well as strong indicators of the market demand for high quality, innovative and tailor-made solutions.
“With strong sales, a very healthy pipeline and further development of our services, Cyclon will spend 2012 working on increasing the value of our customers’ return processes. This will also be the time when Cycleon enters new geographies especially the Asia-Pacific region,” Hoestra added.
Cycleon, which won the World Mail Award for Growth back in 2009, has been operating since 2005, before being taken over by German company Reverse Logistics GmbH in 2007.