Norway Post is strengthening its logistics business with the acquisition of the remaining 50% inNordic parcels operator PNL from joint venture partner Post Danmark for an undisclosed price. The
move will put Norway Post in a stronger position to compete with the future merged Swedish-Danishpostal group in the regional parcels and logistics sector.The takeover will occur immediately, providing the agreement is approved by Swedish,Norwegian and Danish competition authorities. Sweden’s Posten and Post Danmark, which aim to mergeat the end of this year, plan to combine their own logistics businesses into a strong regionalplayer.
“PNL is a well-organised company with a solid, international contractual network and largecustomer base. It fits perfectly into our present Scandinavian logistics organisation,” said DagMejdell, CEO, Posten Norge. “This purchase forms an important part of our plan of being one of theleading companies in the Scandinavian logistics market. We are in a strong position within internetpurchasing, and this acquisition provides us with an excellent platform for intensifying ourefforts in Scandinavia.”
In future, PNL will cooperate with other Norway Post subsidiaries such as NorCargo andexpress firm Box. “We will offer integrated parcel and logistics solutions for distribution acrossthe Nordic region,” stated Mejdell.
”Posten Norge is an attractive owner for us. It is one of the most innovative and customeroriented postal services in Scandinavia, and closer cooperation with the whole of the Posten Norgegroup gives us a strong competitive advantage,” added Benny Rhe Hansen, CEO of Pan NordicLogistics.
Post Danmark said in its half-year financial results announcement that it had signed anagreement to transfer its shares in PNL to Norway Post. But it will be given the right to carry oncustomer relationships with Danish customers.
Stockholm-based PNL was created in 1997 by several Nordic postal operators as a joint,cross-border parcels company. In 2007, it moved 12.3 million packages, increased turnover by 21% toSEK 1.6 billion (€169 million) and made an operating profit of SEK 45 million (€4.75 million). Thecompany, with some 200 employees and 15,000 customers, has its customer base mostly in the IT,textile and electronics industries but is growing fast with e-commerce and mail order companies.Sweden is its largest market.
The company operates out of six regional depots in Sweden, Norway, Denmark and Finland. Itcurrently uses the postal operators in Norway, Denmark and Finland for distribution, while inSweden it has some 30 sub-contractors for transportation. Outside the region, it cooperates withpostal operators in Europe and North America.
PNL will expand capacity significantly with the opening of a new, larger terminal inJönköping in southern Sweden in January 2009.
