Thiel Logistik AG takes GAT and AF-Logistik

Thiel Logistik AG takes over Logistics Service Providers GAT and
AF-Logistik

Grevenmacher (Luxembourg), 9 January, 2002. Thiel Logistik AG is taking over the logistics services providers GAT-Logistik GmbH, Kempten, and AF-Logistik, Kelsterbach.
GAT was founded in 1949 and currently employs 188 people. Net sales in 2001 amounted to EUR 13 million, EBIT was EUR 1 million. GAT has a long standing in procurement logistics for well-known companies in the metal processing and consumer goods industries, amongst others.
GAT’s long-standing business relationship with Thiel’s Austrian subsidiary, delacher Logistics AG, will aid significantly in its integration into Thiel Logistik AG. The takeover of GAT Logistik will open up another important area in the region where Germany, Austria and Switzerland meet for Thiel Logistik AG. This should create significant synergies between Thiel’s subsidiaries GAT (D), delacher Logistics AG (A) and BTL (CH).
AF-Logistik was founded in 1994 and currently has 90 employees. As a service provider in the air cargo sector AF-Logistik ideally complements the business activities of Thiel AS Logistics. AF’s net sales amounted to EUR 6 million in 2001, the EBIT was EUR 0.6 million. Thiel finances the acquisition by issuing 400,000 new shares.
In the process of the restructuring of the IT-division Thiel sold Ley GmbH, Pulheim. Ley GmbH will keep its products (such as COSA) and the product development, whereas the consultants will be retained by Thiel Logistik. With this Thiel keeps its competence for comprehensive logistic concepts.