Norway Post buys Swedish transport firm
Norway Post today continued its Nordic expansion with the acquisition of Swedish road haulage company CombiTrans for an undisclosed sum. The deal will strengthen its logistics activities in the region.
CombiTrans, with 105 employees, had operating profits (EBIT) of SEK 50 million (euro 5.4 million) on revenues of SEK 540 million (euro 57.9 million) in 2007. In 2006, it dispatched 16,000 vehicles and 94,000 consignments with a freight haulage weight of 348,000 tonnes.
The company, set up in 1986, specialises in international road haulage services for single consignments, as well as full and part loads. It covers the whole of Europe, with particular focus on Greece, Turkey, the Balkans, and the rest of Eastern Europe, as well as Central Asia and the Middle East. It has offices and terminals in the Swedish towns of Varberg, Malmö, Ystad and Jönköping, as well as in Greece.
Norway Post has expanded strongly in the Nordic region in recent years in order to reduce dependency on the mail market, diversify into growth sectors such as international transportation and logistics, and counter the expansion of multinationals in the region. It has invested over euro 636 million on acquisitions, and aims to double revenues from outside Norway to nearly 50% of group revenues by 2011.
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