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Samskip expands logistics arm

Samskip vesselBREMEN: February 01, 2016. Samskip Logistics has acquired the German forwarding and logistics company Züst & Bachmeier (Bremen). Terms of the purchase were not disclosed.

The forwarding company was founded by Giovanni Züst and his partner Bachmeier in 1911 and subsequently sold to the Swedish corporate group Ratos/Inter Forward at the beginning of the 1980s. In 1993 the company was split and the managing partner Matthias Abend acquired the Bremen-based operation.

Züst & Bachmeier SA based in Chiasso, Switzerland remains an independent company.

“With 25 years of experience and a clear understanding of customer needs, the acquisition is the next step into strengthening Samskip Logistics’ presence in the forwarding industry and further enhancing efficiencies,” commented Ásbjörn Gíslason, CEO of Samskip Logistics.

Samskip Holding reported revenue of €580 million in 2014, an EBITDA of €21.3 million and a net profit of €9.9 million. The 2015 result will be based on expected revenue of €600 million.

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