Agility buys Finnish logistics company

Logistics company Agility has acquired Finnish forwarder Oy O. Nyström & Co. AB to boost its presence in Scandinavia, the company said Thursday.

   Nyström, which specializes in air freight, had revenue of 15 million euros in 2008. The acquisition of the Finnish company is the latest in a series of moves Agility has made in Scandinavia in the past year. The company also acquired the Danish company CF GeoLogistics A/S and established an office in Oslo. Previously, Agility had a presence in Sweden and had minority stakes in joint ventures in Norway and Denmark.

   Europe’s Nordics -- Sweden, Norway, Denmark and Finland -- are of strategic importance to Agility because as specialized economies, they represent a disproportionately high amount of trade relative to their GDP, Agility said in a statement.

   Nyström will be rebranded as Agility. No financial terms of the acquisition were released.

Source: American Shipper