Finland Post is to acquire Combifragt A/S, a logistics operator with net sales of approximatelyEUR 140 million, operating in Denmark and through subsidiaries in Estonia, Latvia and Lithuania.
The business will continue as usual in close co-operation with the current owners and theacquisition will not affect its staff or operations. This arrangement will create a new majoroperator in the Northern European logistics market, with the aim of developing solid nationaltransport services, versatile international transportation services and comprehensive logisticssolutions through co-operation.Combifragt provides transport and forwarding services, special logistics services, for examplefor the alcoholic beverage industry and clothing industry, and service warehouse solutions.Combifragt’s home market comprises Europe, particularly the Nordic and Baltic countries. It belongsto the Nordic Chain co-operation network covering Denmark, Norway, Sweden and Finland. Combifragttransports its annual volume of shipments, 600,000 worldwide, mainly via its partner-operatednetwork. The company employs 450 staff.
The acquisition contributes to Finland Post’s strategy of reinforcing its operations inScandinavia, Baltic Countries and Russia. Such co-operation enables Finland Post to provide itslogistics customers with a comprehensive range of services for the global order-supply chain.Finalisation of the transaction is subject to approval by competition authorities in Estonia,Latvia and Germany. In addition to transport services, Finland Post is strengthening its network ofservice warehouses. Therefore, in the spring of 2005 both AW-Store Oy and John Nurminen Oy’sFashion Logistics business became part of the Post’s business. Moreover, September will see theintroduction of a new warehouse terminal in Kotka, Finland, focusing on transit traffic toRussia.
