EXEL ACQUIRES AUSTRIAN AIR FREIGHT FORWARDER
London, 14 January 2002) – Exel, the world leader in supply chain management,
announced today that it has recently acquired 100% of All Cargo Logistics (“
ACL”), a leading Austrian air freight forwarder. It is expected that the
acquisition will be earnings enhancing, before goodwill amortisation, in 2002.
Audited net assets at 31st December 2000 were #0.4m.
ACL operates through three sites in Vienna, Linz and Innsbruck and provides
services to a wide range of industries including consumer products, foodstuffs
and general manufacturers.
Exel has for a number of years operated in Austria through a local agent. As
Exel’s global coverage has grown there has been an increasing need to
establish a stronger Exel presence in Austria to gain benefits from the growth
in demand for longer, more integrated supply chains, and ACL helps fulfil this
need.
Mick Fountain, Chief Executive of Exel’s Technology and Global Freight
Management division, commented: “ACL provides an excellent opportunity for
Exel to strengthen its presence in the Austrian air-freight market. We have
worked for a number of years with the high quality team at ACL and believe
that, as part of the wider Exel business, they can leverage their strong
customer relationships and accelerate Exel’s growth in the region.”
