Wilson strengthens Nordic base with Exceed merger
Wilson Logistics has bought Swedish-based air and sea freight forwarder Exceed for around SKr160m (€17m).
Exceed was formed in November 2000 through the merger of Air Cargo Express, MelAir and SpeditionsService and has offices in Sweden, Denmark, Finland and the UK.
Henrik von Sydow, CEO of Wilson Logistics, said: “The strategy is to expand globally from a strong Nordic base.
“Through the acquisition of the Exceed group we will consolidate our position as a leader in the Nordic market, while at the same time we will expand our global business.” He said analysis had revealed the two companies complemented each other and the merger would bring an injection of expertise and customers.
Von Sydow said continuing global consolidation had made Exceed’s strategy to become a key player in the Nordic market more difficult. “Through the merger with Wilson, this will be achieved, ” he said.
Exceed posted a SKr19m (€2m) loss in 2001 on sales of SKr1.3bn (€140m).
Exceed Sweden’s MD, Peter Nevhagen, will take over as MD of Wilson Logistics Sweden, where the current MD, Kent Carlsson, will continue as director of logistics on a group level.
Exceed’s operations in Denmark, Finland and the UK will merge into those of Wilson.
Posted: 06/05/2002
from IFW
