GreenCarrier strengthens its Baltic presence with the acquisition of Spedair

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Spedair’s office and terminal at Riga International Airport. The Gothenburg-headquartered logistics specialist GreenCarrier International has strengthened its position in Eastern Europe and the Baltic region with the acquisition of Spedair, an independent Latvian transportation and freight forwarding company, for an undisclosed sum.

Spedair was established in 1998 and is based in Riga, Latvia. The company has subsidiaries in Kiev, Ukraine, and Minsk, Belarus, and has a worldwide network of agents.

Spedair provides air, road, ocean and rail freight forwarding, multi-modal transportation, warehousing and storage services, and customs brokerage services. The company has its own fleet of vehicles operating regular routes between Latvia, Ukraine and Belarus. Within Riga International Airport, Spedair has a multifunctional cargo terminal that includes an open bonded warehouse. In 2007, the company reached a consolidated turnover of €3.4m and achieved a profit of €123,000.

Announcing the move, Staffan Kjellberg, Managing Director of GreenCarrier International, said:

“In its niche, Spedair is a strong company and the acquisition will help us to reinforce our position throughout the Baltic Sea region. The culture and business philosophy of Spedair is very similar to that of GreenCarrier; therefore, we do not plan substantial alterations in the operations and strategy of the company.

“Spedair will continue operating in accordance with its existing quality standards and will extend the range of agency services it offers its clients. By combining the local market knowledge of Spedair and its offices in Latvia, Ukraine and Belarus with the experience and broad representation base of GreenCarrier International, the spectrum of our services will increase and consequently we will be able to ensure a good platform for our future growth.”

This latest acquisition follows on from GreenCarrier’s purchase of IATA approved Finnish forwarding company Oy FCS Logistics Ltd in June this year. Founded in 1995, Oy FCS offers international air and sea container transport services and has a global agent network.

GreenCarrier offers its customers a single point of contact for all their logistics requirements. With offices in Sweden, Norway, Finland and all Baltic countries GreenCarrier has now established a solid home market for expansion in to the expanding markets of China and the near east. The offices in China and Belarus as well as Ukraine will speed up this expansion.

GreenCarrier is the logistics arm of the Gothenburg-based Björk.Eklund Group, one of Sweden’s largest privately owned logistics and transportation companies.

www.greencarrier.com

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