REPORT: LOGISTICS TAKEOVERS BY EUROPEAN FIRMS HALVED IN 2002

REPORT: LOGISTICS TAKEOVERS BY EUROPEAN FIRMS HALVED IN 2002    The number of mergers and takeovers made by major European logistics operators almost halved last year when compared with 2001, according to a report by U.K.-based Transport Intelligence Ltd.
   “The major postal operators such as Deutsche Post and TPG, which have been among the most acquisitive in recent years, are nearing the completion of their European mergers and acquisitions program,” said John Manners-Bell, lead analyst at the research company.
   “Other key buyers, such as ABX Logistics, Thiel Logistik and D. Logistics, have been forced to re-focus their attention internally as they seek to integrate their acquisitions at a time when revenues and profits are falling,” he added.
   European logistics companies are now turning to “bolt-on deals” that give them access to the North American and Asia-Pacific markets, according to the report.