UPS to buy Hungarian peer Cemelog
US express delivery company UPS on Thursday said it will purchase Hungarian pharmaceutical logistics company Cemelog. UPS expects to close the transaction in Q2 2013. It 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.
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