Year: 2002

Thiel Logistik AG takes over majority of Birkart Globistics, increases financial planning for 2002 and strengthens management

Grevenmacher (Luxembourg), 9 January, 2002. Thiel Logistik AG has acquired a majority of the business divisions of Birkart Globistics AG, Aschaffenburg. This will enable the Luxembourg-based company to enter the innovative Fashion Logistics sector and to expand its activites in Europe, Asia, Africa, the Americas and Australia.The financing of the takeover will be divided in about thirds between liabilities, cash, and the issue of approximately 1.2 million new shares. Birkart was founded in 1877 and has 3,500 employees worldwide. Out of the acquired business divisions with almost 3,000 employees Thiel expects net sales of about EUR 410 million, with an EBIT of EUR 8 to 9 million for 2002. As a result of the takeover Thiel Logistik AG has increased its financial planning for the year 2002 substantially. Thiel is now expecting total sales of EUR 1.616 million and an EBIT of EUR 109 million. To meet the new challenges Thiel Logistik AG strengthens its Board of Directors. Newly appointed is Christian Fürstaller (operations), Chairman of the Board of Directors of Quehenberger Logistik AG, Salzburg. New designated members are Stefan Delacher (marketing), Chairman of the Board of Directors of delacher Logistics AG, Wolfurt, and Prof. Andreas Goldschmidt (research, education, and training), Chairman of the Divisional Board of Directors of Thiel HealthCare Logistics + Services. The current CIO, Dietmar Ley, leaves the Board of Directors and shall be elected to the Advisory Board