K&N to make acquisitions in Europe

Source: Supply Chain Digital

Date :16/10/2007 15:23:37

Kuehne & Nagel, one of the world’s largest freight forwarding and logistics groups is about to embark on a number of European acquisitions.

The company is in talks with two unnamed mid-sized German providers to its overland freight business, along with possible acquisitions in Southern Europe.

According to Klaus-Michael Kuehne, CEO, the acquisitions in Germany could be finalised by the end of the year and the deal in Southern Europe would take place in the first half of 2008.

He added that a larger acquisition may be in the offing, but this would require a level of financing.

Following the release of it half yearly figures in July, K&N indicated that it wanted to grow its rail freight network business through acquisition.

The company also plans to expand its road -freight network through acquisition although it has yet to make a major purchase.

October 16 2007

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