ABX sells loss-making arm to MD

ABX Logistics has agreed to sell its French domestic parcel delivery business to its current MD, Jackques Caille. A company officeial told IFW that ABX Logistics France, which has been the focus of restructuring plans over the past 18 months or so under Cailles leadership, was still making losses but declined to comment on the scale of its financial difficulties.
The name of the new company is not yet known but the business as it stands generates a turnover of around EUR150m, employs 1,400 staff and operates a network of 35 depots.
ABX Logistics will maintain its presence in France via its pan-European road freight service Eurocargo and its air and sea forwarding division, which have a combinted turnover of about EUR170m. Pulling out of French domestic parcels did not mean ABX was turning its back on this market segment in other European countries, the official added. The deal will take effect form 31 March.