Kuehne + Nagel to buy oil and gas specialist

Kuehne + Nagel to buy oil and gas specialist Kuehne + Nagel said it has agreed to acquire J. Martens Holding AS, a provider of transportation and logistics service in the oil and gas industry.
   J Martens has operated for 125 years in Norway and also is in markets such as Singapore, Great Britain and the Netherlands. Headquartered in Bergen, Norway, it has 260 employees, and had sales of about $215 million in 2008.
   'The acquisition of J. Martens significantly strengthens our capabilities and position not only in Norway but also in the international oil and gas logistics market,' said Peter Ulber, executive vice president for sea and air logistics of Kuehne + Nagel International. 'It ideally fits our strategy to globally expand those services for our customers, which require a high level of industry-specific know how and experience.'
   Didrik Trumpy Martens, chief executive officer of J. Martens, will join the corporate Kuehne + Nagel Oil & Gas management.