Thiel Logistik has acquired GST

Thiel Logistik AG enters French market and significantly expands position in
Spain and Italy Luxembourg-based company acquires GST in France Grevenmacher
/ Luxembourg, 12th November, 2001. Thiel Logistik AG announces a 100 percent
takeover of the French logistics service provider GST. By taking over GST
Thiel opens up France, the second largest logistics market in Europe for
itself, and further expands its position in Italy and Spain. GST’s
activities lie within high-quality logistics services. The company has its
headquarters in Scionzier, Savoy, was founded in 1964 and employs a
workforce of 315 employees. GST trades in the essential hubs of France as
well as Italy and Spain, and provides an excellent foundation for the
expansion of Thiel’s business operations. GST’s revenues for last year
amounted to EUR 27 million and EBIT to EUR 2,8 million. 41 percent of its
revenues were generated in Italy, 31 percent in France, and 23 percent in
Spain.
The acquisition of GST is a further step in Thiel Logistik AG’s growth
strategy and opens up markets in other important European regions. The
Luxembourg-based company is now present in the most important logistics
markets in continental Europe.