SCHENKER ACQUIRES REMAINING SHARES OF PORTUGUESE SUBSIDIARY
Schenker AG, the logistics unit of Stinnes, has acquired the remaining shares of its Portuguese subsidiary company, Biermann-Schenker Transitarios Lda.
Terms of the deal, which is retroactive to Jan 1, were not disclosed.
Schenker has owned about one-third of the shares in Biermann-Schenker Transitario since the 1960s. The company purchased the remaining shares 'in order to consolidate and expand its position in the Portuguese market.
'The complete integration of the company into the Schenker network makes it easier for us to offer a wider range of total logistics solutions in Portugal for major customers,' said Hakan Larsson, chairman of the Schenker AG management board.
Established in 1953, Biermann-Schenker has a logistics center in Lisbon, with additional sites in Pombal and Porto, and offers a range of logistics services, primarily for the automotive and high-tech fields. The company employs about 145.