Tag: Sweden

TPG completes acquisition of global freight forwarder Wilson

Posted by | Aug 19, 2004 | |

Mail, express and logistics company TPG N.V. has announced today the completion of the acquisition of the Swedish-based global freight forwarding company Wilson Logistics Group from Nordic Capital following approval from the relevant competition authorities. The purchase price is SEK 2.35 billion (EUR 257 million) on a debt free basis. TPG has financed the acquisition from cash reserves. This acquisition is TPG’s first major step into global freight forwarding and further strengthens its position as a leading logistics and express service provider. Wilson has a strong global freight forwarding operation in 28 countries with more than 2000 employees and will add to the existing freight forwarding capabilities within TNT Express and TNT Logistics.

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A new EEC Directive on working hours will cause serious security issues for the parcel industry

Posted by | Aug 9, 2004 | |

Trying to keep up with the myriad EEC Directives, which are constantly spawned from the Brussels hotbed of activity, is causing a nightmare for every UK industry sector. Logistics companies will not be spared the sea of paperwork as a new EEC Directive on working hours is proposed.
John Pritchard, Head of Security at Tipton based Nightspeed Secure Worldwide Express is concerned about the issues of security that the proposed new legislation will jeopardise.
He said: “If the 48 hour a week rule is inflicted on to parcel carriers it will mean taking on more staff. The parcel industry as a whole has a high turnover of drivers and warehouse staff and there is already a shortage of personnel.”

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Sales by Baltic logistic system Vilnius surge 27percent

Posted by | Jul 12, 2004 | |

Baltic Logistic System Vilnius, the leading Lithuania’s logistic company, reported sales of 8.2 million litas (EUR 2.38 mln) for the first six months of 2004, a surge of 27 percent from the January-to-June period of previous year. Baltic Logistic System Vilnius, the leading Lithuania’s logistic company, reported sales of 8.2 million litas (EUR 2.38 mln) for the first six months of 2004, a surge of 27 percent from the January-to-June period of previous year.
The company, which provides parcel delivery services under the trade name of Bizpak, boosted its international parcel shipments by 59 percent, to 5,600 parcels from 3,500 in the first half of 2003. On domestic market, the company delivered 498,000 parcels, a rise of 42 percent, in year-on-year terms.

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EU state-aid rules may force some markets to open

Posted by | Jul 8, 2004 | |

In their new rules restricting state aid to troubled companies, European Union regulators could require governments to open protected markets in exchange for approving some corporate bailouts. The EU announced new guidelines yesterday aimed at forcing companies to pay back state aid. But the initiative doesn’t stop at demanding cash or the selloff of assets in return. It also gives governments the alternative of fostering more competition as a way to gain EU approval for aid to companies in distress. But experts say the rules could magnify differences within Europe over the pace at which governments permit competition in protected sectors. France and Germany, which have been outspoken about protecting their industrial giants, already accuse the European Commission of jeopardizing jobs and stability by moving too quickly to liberalize markets.

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