Tag: Kuehne & Nagel

Kuehne & Nagel successful first quarter in 2002

Posted by | Jun 14, 2002 | |

In the first three months of this financial year, the Kuehne & Nagel logistics group (KN) headquartered in near Zurich (Switzerland) has achieved a <> result, as the company reported in its press release.
In the first quarter of 2002, KN generated a net income of CHF 38.1 million.
Compared to the year-earlier period, this signifies an increase of 22.5%, if the one-off income of CHF 10.9 million from the sale of the Uniport Multipurpose Terminals BV (Rotterdam, the Netherlands) is disregarded.
Gross profit rose by 29% from CHF 373.4 million to CHF 481.7 million, and earnings before interest, taxes and amortisation (EBITA) increased by 10.3% to CHF 87.6 compared to the EUR 79.4 million of the year-earlier period.

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Smaller independent logistics firms will be the target of Europeans looking to expand in North America

Posted by | May 14, 2002 | |

Acquisitive European logistics organizations still have the North American market in their sights despite tough economic conditions and the challenges of finding suitable targets. As economic conditions improve, analysts expect merger and acquisition activity to pick up fast.

The pool of top targets is smaller after the acquisitions of the last two years or so. “Most of the prime U.S. candidates have been taken,” said Dick Armstrong of Stoughton, Wis.-based logistics management consulting firm Armstrong & Associates Inc. For buyers to come into this market “and make a dramatic impact,” they would have to go after companies the size and caliber of Schneider Logistics or Ryder System, he suggested.

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K&N planning to hit the acquisitions trail

Posted by | May 7, 2002 | |

Kuehne & Nagel (K&N) is planning a series of acquisitions in southern Europe over the next two years to bring its contract logistics operations up to world scale.
New UK chief executive Peter Ulber said: “There are a few spots in Europe where we are not very strong yet.” He identified Spain, Portugal, Italy and France as markets in which the group would look to invest in order to match its logistics activity to the level of North America, where Usco was acquired last year, and Asia, where K&N has a strategic stake in SembCorp.

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