D Logistics sells handler to ease debt worries

Debt-laden German logistics group D Logistics last week sold its air cargo handling arm CSC to rival handler Swissport.
The deal, including transfer of property at Heathrow, is understood to be worth slightly more than €100m.

Swissport, the former Swissair services company bought this year by British investment group Candover, said the acquisition would double its cargo throughput to 2m tonnes, making it the “biggest provider of the full range of airport ground services”.

Ludwig Bertsch, executive VP for corporate services, said: “Our strategy is to build a network with a range of services so we can approach the large international carriers and offer them a full regional arrrangement, rather than for individual countries. We see carriers increasingly doing this. Cargo was the missing piece in that strategy.” D Logistics, which bought CSC from KLM at the end of 2000, said the sale would reduce its levels of debt and interest payments, restoring it to profit.

D Logistics spokeswoman Anja Marquardt said CSC and its remaining logistics operations were profitable last year, but the company could not afford to invest in developing it.

Relevant Directory Listings

Listing image

METTLER TOLEDO

METTLER TOLEDO is a globally recognized leader in precision instruments and services for a variety of industries, including the post and parcel sector. With a rich history dating back to 1945, the company has built a strong reputation for innovation, reliability, and exceptional customer service. […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

 

Pin It on Pinterest

Post & Parcel
New CEO for Whistl
Australia Post proposed price increase to help the operator address losses
USPS: new mailing services price changes to take effect July 13
DHL eCommerce: by sustainably growing our operations, we are boosting our capacity
Citizens Advice: Royal Mail’s unfair price hikes are making post less affordable
New CEO for Whistl
Australia Post proposed price increase to help the operator address losses
USPS: new mailing services price changes to take effect July 13
DHL eCommerce: by sustainably growing our operations, we are boosting our capacity
Citizens Advice: Royal Mail’s unfair price hikes are making post less affordable
1
2
3
4
5
Listing image
Listing image
Listing image
Listing image
German postal act reform means letters will arrive less frequently
Applications for the World Post & Parcel Awards are open
UPS opens new Dutch “super hub” in Eindhoven
Unite will push for general election over Brexit
Share This