[EN-SEA] "Bjork.Eklund" Buys 16 "Norwegian Transport Network" Firms

SWEDISH logistics firm Bjork.Eklund Group has acquired 16 companies that were until now part of the Norwegian Transport Network (NTN) Group to strengthen its presence in the Baltic region.

The deal was concluded on December 30, but discussions continue with at least two of these 16 companies' management teams regarding the possibility of management buy-out deals, a statement from the Bjork.Eklund Group said.

"NTN was the largest independent logistics network in Norway and a leading international service provider of logistics services in the Nordic area," it said. It had a presence in nine other countries and conducted its activities through 30 wholly-owned units and a global network of partners, enabling it to offer a range of logistics services.

"Together with these NTN companies we will become an even stronger force in the Scandinavian market. We will have offices in more locations and hence a more dominant position in the Nordic-Baltic region. We have acquired the majority but not all of the companies in the NTN Group and have offered positions to 250 of its staff," the Bjork.Eklund Group said.

The 16 companies being acquired by Bjork.Eklund Group are "Arealog OY"; "Asia Maritime Logistics Pte Ltd"; "Bergen Cargo A/S"; "Birger Ekerholt A/S"; "NTN Denmark A/S"; "NTN Larvik Logistkcenter A/S"; "NTN Latvia SIA"; "NTN Lithuania UAB"; "NTN Shipping A/S"; "Nordic Wave AB"; "Nordicon AB"; "Schiander Moss Shipping A/S"; "Schianders Shipping Drammen A/S"; "Schianders Intersped A/S"; "Schianders Intersped AB", and "Ths Arbo Hogh &Co A/S".

Source : HKSG, 09.01.10