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Denmark's DFDS acquires ICT Logistics ops in Romania

Denmark's DFDS acquires ICT Logistics ops in Romania Source: DFDS

BUCHAREST (Romania), September 15 (SeeNews) - Danish shipping and logistics company DFDS said on Wednesday that it has acquired 100% of the share capital of freight forwarder ICT Logistics in Romania, Russia, Ukraine, Latvia, and Lithuania.

The acquisition will expand and develop DFDS’ European logistics services, the buyer said in a press release.

In addition, the integration with DFDS’ existing logistics network is expected to generate synergies from business development opportunities and operations.

The transaction is subject to approval by relevant competition authorities. ICT Logistics will be consolidated in the DFDS Group once the deal is closed.

The transaction has no material impact on DFDS’ outlook for 2021.

"ICT Logistics greatly improves our offering to customers trading with Eastern Europe. The expansion of our logistics network also complements our Baltic ferry route network,” DFDS executive vice president and head of logistics division Niklas Andersson said.

ICT Logistics provides transport solutions for full- and part-loads as well as groupage between Scandinavia and Eastern Europe (CIS countries).

Its main offices outside Denmark are located in Moscow, Kaluga, Lviv, Kiev, Bucharest, Riga, and Klaipeda. The company also has an office in Hamburg.

Transport modes deployed include road, air, sea, river, and rail, while services include oversize cargo, warehousing, distribution, and customs clearance. The company operates its own haulage companies in Lithuania and Russia.

Operations include a fleet of around 600 trailers and 20 trucks. The company has 80 employees and annual revenues of 260 million Danish crowns ($41 million/ 35 million euro).

DFDS operates one of the largest networks of ferry routes in and around Europe, including own terminals in key locations, while its logistics division provides European door-door transport solutions to manufacturers of consumer and industrial goods.

(1 Danish crown = 0.1345 euro)