Schenker completes Spain-TIR purchase

Schenker completes Spain-TIR purchase Deutsche Bahn subsidiary Schenker today completed its takeover of the Spanish logistics group Spain-TIR, agreed at the start of August.
   The takeover will allow Essen, Germany-based Schenker to expand its European land transport network, especially on the Iberian Peninsula. Spain-TIR’s network comprises 19 branch offices — 16 in Spain and three in Portugal — 92,000 square meters of storage area, plus 46 franchisees.
   The Barcelona 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 ($262 million).
   Financial details have not been disclosed but the deal is thought to be worth about 100 million euros ($141 million).
   Other deals in the pipeline at Deutsche Bahn include buying a majority share in another Spanish company, Transportes Ferroviarios Especiales (Transfesa), and plans to buy out the entire shareholding of English Welsh & Scottish Railway Holding Ltd. (EWS).