WALLENIUS WILHELMSEN RAISES STAKE IN CAR LOGISTICS FIRM CAT

WALLENIUS WILHELMSEN RAISES STAKE IN CAR LOGISTICS FIRM CAT

   Wallenius Wilhelmsen has increased its stake from 20 percent to 40 percent in Compagnie d’Affr'tement et de Transport, the French vehicle logistics company.

   The company did not disclose the terms of the transaction.

   Wallenius Wilhelmsen said that it is committed to expanding the development of its global logistics services for finished vehicle customers.

   “Our increased investment is a further indication that Wallenius Wilhelmsen is a committed and active player in the automotive logistics industry,” said Steve Cadden, senior vice president, logistics management.

   Compagnie d’Affr'tement et de Transport is now owned by Wallenius Wilhelmsen (40 percent), AutoLogic (40 percent) and TNT (20 percent).

   The vehicle logistics firm has operations in 14 countries, with revenues of 1.2 billion euro (about $1.2 billion) in 2000. Its primary activities are in vehicle logistics, international freight forwarding and general cargo logistics.