Swiss Post International (SPI) has acquired the Swedish letters processing company IMS Europe ABto expand its presence in Scandinavia as part of its international niche strategy.
With the takeover of IMS Europe, which takes with effect from 1 January 2008, SPI has gained asecond foothold in Sweden in addition to its branch in Stockholm and is advancing to become a keyprovider in the Swedish postal market. It was agreed that the purchase price will not be disclosed,Swiss Post said in a statement.
IMS Europe AB is based in Limhamm, near Malmö in southern Sweden. The company operates with theproduct groups of marketing mail, business mail, business to consumer as well as press andpackaging, and generated sales of around CHF 3.6 million in 2007 (EUR 2.23 million) with fiveemployees.
Swiss Post already generates 20 % of its sales abroad and in its cross-border business. SwissPost International is a wholly owned subsidiary of Swiss Post and currently employs 1,200 people ineleven European countries, four countries in Asia and the USA.
