Press release
Analytiqa: Logistics Bulletin: Friday 17th November
Friday 17th November 2006 – This week's Logistics Bulletin reports on M&A activity from across the globe, with the news that Geodis has acquired TNT's Freight Management business. The transaction has an enterprise value of €460.0 million, cash and debt free. In Latin America, Dachser and Logimasters have established a joint venture in Brazil and in Eastern Europe, the CAT Group has established a subsidiary in the Ukraine. PWC Logistics, after the acquisitions of GeoLogistics, TransOceanic and Trans-Link, has completely re-branded its Group to Agility. The re-branding is expected to be fully complete by 2008.The Bulletin also features third quarter and nine month results from DSV and D. Logistics in Europe and the Stonepath Group in the US. Service developments and contract wins come from DHL Exel Supply Chain, which has launched a new 'direct to pharmacy' service in Australia, to deliver the Government subsidised Prescription Benefit Scheme (PBS) medicines. Elsewhere, Schenker has renewed its contract with Targus and Amtrak has won business back from dabs.com.
Senior executive appointments have been announced this week at ProLogis, Pacer International and Eurinpro, whilst arvato logistics services has announced the resignation of its CEO. Other news includes Marks & Spencer increasing its roll-out of RFID and Bridgestone completing the final phase of development at a European Logistics Centre in Zeebrugge.
TNT sells Freight Management to GEODIS
16 November 2006 - TNT has signed a Sale and Purchase Agreement (SPA) to sell its freight management business unit to French logistics service provider GEODIS SA. The transaction has an enterprise value of €460.0 million, cash and debt free. TNT estimates cash proceeds of above € 400 million. The transaction will bring TNT a book gain of well over €150.0 million and is expected to close in the first quarter of 2007 subject to regulatory clearances. Final amounts will be calculated on the basis of completion accounts.
Peter Bakker, CEO of TNT stated: "We bought the business in 2004 primarily based on a rationale related to Logistics. As part of our Focus on Networks strategy we studied the relationship to our express and mail delivery networks and decided that selling the freight management business is the best way forward and will allow TNT to focus on the many growth opportunities that our network businesses offer. I congratulate GEODIS with the acquisition of this excellent business and wish the management and employees continued success."
With revenues last year of €3.6 billion, GEODIS is an international logistics provider with 23,800 employees in a network covering 120 countries. Pierre Blayau, Chairman & CEO of the GEODIS group stated: "We are very excited by the acquisition of TNT Freight Management, which is a valuable company and a perfect fit with GEODIS business model. I am pleased to confirm that Jeff Hoogesteger will remain CEO of TNT Freight Management from Headquarters maintained in the Netherlands".
Elsewhere this week:
PWC Logistics re-brands to Agility
http://www.analytiqa.com/newsitem.aspx?articleid=2026
Dachser and Logimasters establish joint venture in Brazil
http://www.analytiqa.com/newsitem.aspx?articleid=2027
Group CAT launches subsidiary in the Ukraine
http://www.analytiqa.com/newsitem.aspx?articleid=2035
DSV releases results for first nine months of 2006
http://www.analytiqa.com/newsitem.aspx?articleid=2031
D. Logistics remains on track with Q3 results
http://www.analytiqa.com/newsitem.aspx?articleid=2033
Stonepath revenue decreases by 19.0% in third quarter
http://www.analytiqa.com/newsitem.aspx?articleid=2039
DHL launches 'direct to pharmacy' service in Australia
http://www.analytiqa.com/newsitem.aspx?articleid=2030
dabs.com outsources to Amtrak
http://www.analytiqa.com/newsitem.aspx?articleid=2032
Targus extends its logistics contract with Schenker
http://www.analytiqa.com/newsitem.aspx?articleid=2036
Marks & Spencer to implement RFID across its stores
http://www.analytiqa.com/newsitem.aspx?articleid=2029
Bridgestone opens final phase of European Logistics Centre
http://www.analytiqa.com/newsitem.aspx?articleid=2034
ProLogis makes executive appointments
http://www.analytiqa.com/newsitem.aspx?articleid=2028
CEO of arvato logistics services steps down from the Executive Board
http://www.analytiqa.com/newsitem.aspx?articleid=2037
Eurinpro appoints Werner Knan as Managing Director Germany
http://www.analytiqa.com/newsitem.aspx?articleid=2040
Pacer International appoints Chairman and CEO
http://www.analytiqa.com/newsitem.aspx?articleid=2038
Click www.analytiqa.com/news.aspx for additional developments added daily.
Analytiqa
Gate House, Fretherne Road,
Welwyn Garden City, UK, AL8 6NS
Tel: +44 (0)1707 37 22 11
Email: info@analytiqa.com
Contact: Editor, Logistics Bulletin
List of Key Industry Participants:
ABX LOGISTICS; BAX Global; CH Robinson; DHL Global Forwarding; EGL; Exel; Expeditors; FedEx; GeoLogistics; Hellmann Worldwide Logistics; Kintetsu World Express; Kuehne & Nagel; Maersk Logistics; Nippon Express; Panalpina; Schenker; SDV; UPS SCS; UTi Worldwide Logistics; Yusen; Wincanton; APL Logistics; TDG; Rhenus Logistics; Penske Logistics; DPWN; DHL; DHL Exel Supply Chain; Federal Express; Schneider Logistics; Schneider National; Schenker Logistics; Stinnes; Gist; Eagle Global Logistics; Menlo Worldwide; Jones Lang LaSalle; ProLogis; DTZ; Gazeley; Groupe Norbert Dentressangle; National Logistics Company; TNT; TNT Logistics; Gefco; Maersk; Geodis; GEFCO; Bibby Distribution; Global Automotive Logistics; Autologic; NYK Logistics; Dachser; DSV; Fiege; Frans Maas; Hellmann Worldwide; MOL; KWE; Kintetsu; Ewals; UPS; Ryder.
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