STINNES/SCHENKER GROUP “LOOKING FOR ACQUISITIONS”
Wulf Bernotat, chairman of Stinnes AG, the parent
company of Schenker, said that the German group is looking for acquisitions in the U.S.
and the United Kingdom in the transportation sector.
Bernotat did not give details on the potential takeover targets.
Schenker acquired BTL, the Scandinavian company previously known as Bilspedition, in
The takeover plan announced by the Stinnes/Schenker group is the latest
move by major European forwarding and logistics groups to buy into the U.S. transport and
logistics market. It follows the acquisition of Air Express International by the Deutsche
Post/Danzas group and the takeover of EFL Transportation by Tibbett and Britten.
Schenker recently announced an alliance with Japan’s Seino