Deutsche Bahn’s Schenker to buy Spain-TIR
Germany’s Deutsche Bahn said today its logistics subsidiary Schenker is planning to acquire Spain-TIR Group to expand its European land transport network. No financial details were disclosed.
Spain-TIR has its own network on the Iberian Peninsula, comprising 19 branch offices — 16 of which are located in Spain and three in Portugal — 92,000 square meters of storage area, plus 46 franchisees. The company, which operates in the field of general cargo, direct services and logistics, has a workforce of more than 800 employees and last year generated revenues of about 200 million euros ($267 million).
“Spain-TIR has an extensive network in Spain and Portugal that is an ideal supplement to our own European land transport network,” said Hans-J'rg Hager, member of the management board of Schenker, 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 Mund', the chief negotiator for the Spain-TIR 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.
“I am convinced that the two companies are well matched and that customers will all benefit from this move,” he added.
The corporate management and employees of the Spain-TIR will be fully integrated into the Schenker organization, and Mund' will assist with the integration.
Deutsche Bahn is also buying a majority share in Spanish company Transportes Ferroviarios Especiales (Transfesa) and plans to buy out the entire shareholding of English Welsh & Scottish Railway Holding Ltd. (EWS).
Deutsche Bahn’s Schenker to buy Spain-TIR
