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Monday, 25.11.2024, 10:33
Lithuania's Transimeksa buys Germany's Froelich Internationale Transporte
BC, Vilnius, 10.09.2020.Print version
Lithuania's transport and logistics services company Transimeksa has acquired, for an undisclosed amount of money, Germany's Froelich Internationale Transporte in a deal that will help its geographic and service expansion, according the business daily Verslo Zinios reported LETA/BNS.
Founded, owned and managed by the Froelich family for years, the company became part of the Transimeksa Group in September.
Darius Vysniauskas, CEO and shareholder of Transimeksa, said the Siauliai-based group had looked for expansion opportunities in Germany for several years.
"This is related to our geographical expansion, our wish to be closer to customers, and the Mobility Package," he told the paper.
Froelich, the owner of a fleet of 60 trucks and 80 semi-trailers, has focused on the intermodal transport business for the past decade. It owns a direct rail connection linking Kassel, Germany, and Verona, Italy, and a logistics terminal in Hessisch Lichtenau.
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