TALLINN, 06 May 2010, BNS – CF&S Estonia AS, member of the Baltic Maritime Logistics Group AS, is buying the forwarding company IK Speditor OÜ which is a member of the IK Speditor Group.
The transaction will be closed during May. The parties will not disclose the price of the transaction, CF&S Estonia reports.
By acquiring IK Speditor CF&S Estonia will increase the market share of the services in the road and air transport segment, and it will enable the company to start its activity as a warehouse keeper and provider of distribution logistics service.
The transfer of the subsidiary will allow IK Speditor Group OÜ to focus more on its other principal activity, which is construction and real estate development in Mõigu Industrial Park.
The sales revenue of IK Speditor for the previous financial year was 39.9 million EEK, and the company employs 17 people. The company that has been providing forwarding services since 1996 also operates a complex of warehouses in the immediate vicinity of Tallinn Airport.
The consolidated sales revenue of CF&S Estonia for the financial year of 2009 was 300 million EEK. The Group renders sea, railway and road transport services, ship's agency and charter services, representation of shipping lines and customs broker services in the Baltic countries and Russia since 1997.