English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Austrian Post sells trans-o-flex

VIENNA: March 07, 2016. Austrian Post (AP) has reported an impairment of €125.8 million on the sale of its German subsidiary trans-o-flex, a logistics company specializing in pharmaceuticals, healthcare and consumer electronics that had revenue of €500 million in 2014.

Trans-o-flex 2AP, which acquired a majority shareholding in trans-o-flex in 2007, says the company has been “strongly challenged by the difficult market environment in the highly competitive German parcel and logistics market” and has now sold the business to an unnamed “strategic investor” for an undisclosed sum. The acquisition is subject to approval by the German Competition Authority.

Last month trans-o-flex appointed Frank Iden as the new CEO, replacing Max Moser, AP’s former head of its parcel business. Iden has over 30 years industry experience including management positions at Hermes, primeMail, Deutsche Post, TNT and Interfracht.

“In 2013, when I asked Max Moser to take over a major project and assume the management of trans-o-flex, the company faced huge challenges,“ said Peter Umundum, AP board member (Parcel & Logistics).

“Today the course has been set and I would like to thank Max Moser for his tireless commitment and, above all, for his many years of service for Paketlogistik Österreich, which he built up optimally for a sustainably positive development,” Umundum added.

AP reported a 1.6 percent rise in revenue to €2.4 billion in 2015. The Parcel & Logistics division increased turnover 2.9 percent to €900 million while Mail & Network revenue rose 0.9 percent to €1.5 billion year-on-year. EBIT was €89 million and the net profit was €71.6 million.

More News

Written on 20/06/2017, 21:31
us-500-million-for-hybrid-airshipsPARIS, June 20, 2017. Hybrid Air Freighters (HAF) has signed a Letter of Intent to purchase up to 12 Lockheed Martin Hybrid Airships for US$500 million...
Written on 20/06/2017, 19:03
ethiopian-adds-more-b777-freightersLE BOURGET, France: June 20, 2017. Ethiopian Airlines is adding to its fleet of six B777 freighters with the purchase of two more with a list price of...
Written on 19/06/2017, 13:44
freightweek-news-update-week-25ISTANBUL: June 21, 2017. Turkish Cargo has begun a weekly A310 freighter service to Paris CDG. Read more: new_freighter.pdf ABU DHABI: June 21,...
Written on 13/06/2017, 22:19
emirates-sky-cargo-begins-luxembourg-serviceDUBAI/ LUXEMBOURG: June 13, 2017. Emirates SkyCargo began its first weekly B777 freighter service to Luxembourg this week as part of its strategic...
Written on 13/06/2017, 21:31
cma-cgm-to-buy-maersk-s-mercosul-subsidiaryCOPENHAGEN/MARSEILLE: June 13, 2017. A.P. Møller – Mærsk has confirmed the sale of its Mercosul Line subsidiary to CMA CGM to avoid market dominance...
Written on 12/06/2017, 13:37
freightweek-news-update-week-24PORT ELIZABETH, NJ: June 15, 2017. The Ocean Alliance has begun its first weekly U.S. East Coast Loop 3 service with a call by the 8,700 TEU capacity CMA...
Written on 09/06/2017, 21:41
antonov-makes-last-minute-andean-liftMENDOZA, Argentina: June 07, 2017. Antonov used an AN124-100 in late May to move mining equipment weighing a total of 24 tonnes from Santiago, Chile to...
Written on 08/06/2017, 22:41
turkish-cargo-gets-the-word-out-and-the-business-inISTANBUL: June 08, 2017. Turkish Airlines has reported a gross profit of US$117 million on revenue of US$1.93 billion for Q1 2017 as the contribution...
Written on 08/06/2017, 20:37
customs-and-air-cargo-belgium-to-share-visionBRUSSELS: June 07, 2017. Belgian Customs and sector representative Air Cargo Belgium have agreed to "execute a common vision concerning the optimization...
Written on 08/06/2017, 19:40
schiphol-pharma-gateway-adds-abcAMSTERDAM: June 07, 2017. AirBridgeCargo Airlines (ABC) has become the second airline and 14th member of the Pharma Gateway Amsterdam (PGA) initiative...
Written on 07/06/2017, 15:47
ups-suspends-pick-ups-for-qatar-as-embargo-continuesATLANTA: June 06, 2017 UPS has informed its customers that direct import and export to and from Qatar is not be possible, following the decision by...
Written on 06/06/2017, 19:00
maskargo-boost-to-malaysia-ecommerceKULA LUMPUR: June 06, 2017. MASkargo has begun a five times weekly A330 freighter service between Kuala Lumpur International Airport (KIA), Kota Kinabalu...
Written on 06/06/2017, 15:51
delta-and-aeromexico-sign-transborder-agreementATLANTA/MEXICO CITY: June 06, 2017. Delta Cargo and Aeromexico Cargo have signed a sales, operations and marketing agreement to develop the transborder...
Written on 05/06/2017, 14:21
freightweek-news-june-05-09MARSEILLE: June 09, 2017. CMA CGM is to introduce a new box service linking the East Mediterranean, Djibouti, Gulf, Pakistan and India. Read...
Written on 31/05/2017, 21:02
big-jump-in-gross-profit-for-gefcoCOURBEVOIE, France: May 30, 2017. Gefco, the automotive logistics specialist owned by RZD Russian Railways, has reported a 1.3 percent increase in revenue...
Written on 31/05/2017, 15:32
bertschi-award-winning-tanks-head-westDURRENASCH, Switzerland: May 29, 2017. Liquid logistics specialist Bertschi has begun an 18-day movement of 82 ISO tank containers from Korla in Western...
Written on 30/05/2017, 21:52
new-logistics-center-for-tehran-airportTEHRAN: May 30, 2017. PressTV, owned by Islamic Republic of Iran Broadcasting, reports a Swiss and Dutch company will design, develop and construct the...
Written on 30/05/2017, 20:39
changi-reports-air-cargo-recordSINGAPORE: May 29, 2017. Air cargo throughput at Changi Airport rose 4.4 percent in April to 171,720 tonnes compared to the same period last year. For...
Written on 30/05/2017, 17:56
ups-links-with-sf-express-parentATLANTA: May 27, 2017. UPS and SF Holding, owner of SF Express, are establishing a joint venture to provide international delivery services from China to...
Written on 30/05/2017, 17:09
freightweek-news-may-29-june-02BEIJING: June 02, 2017. The Alibaba Group is to purchase 18 percent of Hong Kong-listed Lianhua Supermarket making it the second-largest shareholder of...

- powered by Quickchilli.com -