DB Schenker has completed the acquisition of the Romanian freight forwarding company SC Romtrans SA by registering the company with the Romanian Trade Registry.
DB Schenker had recently acquired more than 99 per cent of the Romtrans shares based on the takeover bid submitted to Romtrans shareholders through Schenker & Co AG, Vienna. As a result, the Romanian forwarder is now a part of DB Schenker's international transport-logistics network. Competition authorities in Romania, Germany, Austria and Hungary have also given the green light to the acquisition, a statement from DB Schenker said.
"With Romtrans under the corporate umbrella of DB Schenker, we are significantly expanding our presence in Romania. We are now in a position to enhance our trans-European services," said DB Schenker's Norbert Bensel, member of the management board of DB ML AG responsible for Transportation and Logistics.
Based in Bucharest, SC Romtrans SA is a large forwarding company involved in the land, air and ocean freight sectors, with revenues of more than EUR90 million (US$131.67 million) and 1,500 employees. Since its privatisation in 1994, Romtrans has evolved from a state-owned undertaking to a group of companies, with nine branch offices in Romania as well as sales companies in Germany, Austria, the Benelux countries, Hungary, Moldavia and Georgia.
DB Schenker had recently acquired more than 99 per cent of the Romtrans shares based on the takeover bid submitted to Romtrans shareholders through Schenker & Co AG, Vienna. As a result, the Romanian forwarder is now a part of DB Schenker's international transport-logistics network. Competition authorities in Romania, Germany, Austria and Hungary have also given the green light to the acquisition, a statement from DB Schenker said.
"With Romtrans under the corporate umbrella of DB Schenker, we are significantly expanding our presence in Romania. We are now in a position to enhance our trans-European services," said DB Schenker's Norbert Bensel, member of the management board of DB ML AG responsible for Transportation and Logistics.
Based in Bucharest, SC Romtrans SA is a large forwarding company involved in the land, air and ocean freight sectors, with revenues of more than EUR90 million (US$131.67 million) and 1,500 employees. Since its privatisation in 1994, Romtrans has evolved from a state-owned undertaking to a group of companies, with nine branch offices in Romania as well as sales companies in Germany, Austria, the Benelux countries, Hungary, Moldavia and Georgia.