Release Date: 13 August 2007
Release ID: 781
DB subsidiary Schenker is planning to acquire 100 percent of the Spanish logistics group Spain-TIR. An agreement to this effect was signed with the shareholders today. Subject to regulatory approval this acquisition will enable Schenker to further expand its European land transport network. The planned takeover of a leading provider of land transport services will be a major step forward for Schenker on the Iberian Peninsula. Schenker is currently represented by a country organization in both Spain and Portugal.
“With the acquisition of Spain-TIR, we are consolidating our network in a European growth region that has great potential,” said Dr. Norbert Bensel,Chairman of the Transportation and Logistics Division of Deutsche Bahn AG. “We can offer our customers on the Iberian Peninsula all modes of transport including rail from a single source, plus direct access to our global network.”
“Spain-TIR has an extensive network in Spain and Portugal that is an ideal supplement to our own European land transport network,” added Hans-Jörg Hager, Member of the Management Board of Schenker AG, and responsible for European land transport. “More presence means greater proximity to the customer. And together we can offer even better services to the customers of both companies.” Lluis Gay Mundó, the chief negotiator for the Spain-TIR Group and one of the shareholders, said: “In around 30 years, Spain-TIR has developed into one of the leading providers of land transport services in Spain and Portugal. All customers will now have direct access to chenker’s global network. I am convinced that the two companies are well matched and that customers will all benefit from this move.“ Lluis Gay Mundó will also be actively involved in the integration period in the company. The corporate management and employees of the Spain-TIR Group will be fully integrated into the Schenker AG organization.
Spain-TIR has its own network on the Iberian Peninsula, consisting of 19 branch offices – 16 of which are located in Spain and three in Portugal – a storage area
of 92,000 square meters, plus 46 franchisees. The company, which operates in the field of general cargo, direct services and logistics, has a workforce of over
800 employees and last year generated revenues of around EUR 200 million.
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