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DSV Road acquires Waagan Transport Group

DSV Road acquires Waagan Transport Group

DSV Road AS, a Norwegian company within the DSV Group, has purchased 100 percent of the shares in Waagan Transport Group AS, comprising the companies Waagan Transport AS, Waagan Bil AS and Sandtorp Thermotransport AS.

   Financial details of the acquisition, still subject to approval by the Norwegian competition authorities, were withheld. Once regulatory approval has been given, expected early October, DSV said it would consolidate the companies.

   Waagan Transport Group offers both international and domestic transport services, including forwarding of refrigerated goods through the company Sandtorp Thermotransport. Last year, Waagan Transport Group posted revenue of NOK 234 million ($44 million) and earnings before interest, tax and amortization (EBITA) of NOK 28.5 million ($6 million). Slight growth is expected in 2008.

   DSV intends to integrate the companies into its road division, creating operational and administrative synergies that it expects to be fully implemented within a two-year period.