Austrian postal group Oesterreichische Post AG (VSE:POST) announced on October 2, 2008 it has completely acquired Bosnian parcel delivery firm 24VIP, Austrian news agency APA reported.
The purchase is a further step towards Post's expansion in southeastern Europe. The Austrian group already has subsidiaries in Slovakia, Croatia, Hungary and Serbia.
24VIP Logistics Services makes some 100,000 deliveries per year and has last achieved a revenue of about EUR 1.8 million (USD 2.51m). The focus of 24VIP's activities is the delivery in the business-to-business segment. The company is based in Sarajevo.
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