DB Schenker acquires Romanian forwarder

 DB Schenker has completed the acquisition of Romania's largest freight forwarding company, S.C. Romtrans S.A.

   Over the past few weeks, DB Schenker had acquired more than 99 percent of Romtrans shares based on a takeover bid submitted to Romtrans shareholders through Schenker & Co. AG. This week, the takeover received approval from the Romanian Trade Registry after competition authorities in Romania, Germany, Austria and Hungary issued necessary approvals in November.

   Romtrans, formerly a state-owned enterprise, became public in 1994 and had revenue of $130 million euros last year.

   We are now in a position to enhance our trans-European services and will in the future be able to satisfy the expectations of our international customers better than ever before," said Norbert Bensel, the member of the DB Schenker's management board responsible for transportation and logistics.

   Even in difficult times for the economy, Romania remains one of the fastest growing economic regions in the European Union and thus an attractive market for DB Schenker, the company said in a statement. 

Source: American Shipper