Kuehne + Nagel to strenghten operations in Slovenia

Effective from April 15, 2007 Kuehne + Nagel will takeover the books of business of Censped d.o.o.The acquisition enables Kuehne + Nagel to expand its seafreight activities in the Balkans.

Censped, with headquarters at the Slovenian Port of Koper, is a specialist in seafreight forwarding. The company achieved a turnover of EUR 9 million in 2006.Friedrich Macher, Regional Director of Kuehne + Nagel South East Europe,said: “This takeover marks a further step in our strategy to expand our operations in the Balkan States. Ideally located, the port of Koper links economic centres in Central and Eastern Europe with the Mediterranean countries and the Far East via the shortest transport route. By joining forces with Censped, we are able to participate even stronger in the dynamic growth of the port and bring value to our customers through fast and cost efficient seafreight solutions.”

Within the scope of the agreement all Censped operations and employees will be integrated into the Kuehne + Nagel company in Slovenia. Gracijan Necmeskal, former Managing Director of Censped, will take over responsibility for Kuehne + Nagel’s national seafreight division.

Both parties agreed not to disclose the purchase price.