UPS to buy Hungarian peer Cemelog

Deals

US express delivery company UPS on Thursday said it will purchase Hungarian pharmaceutical logistics companyCemelog. UPS did not disclose any further details, citing company policy. “The acquisition further strengthens UPS’s healthcare reach and expertise in Europe, enabling comprehensive, compliant services to customers in the pharmaceutical, biotech and medical device industries,” UPS said. Cemelog had revenue of HUF 3.3 billion in 2011, public records show. Exports generated 17% of the total. It closed the year with after-tax profit of HUF 921 million (appr. €3.3 milllion).

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