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Schenker to create universal logistics services company with merger of Hungarian units

Austrian haulage company Schenker, a member of the Deustche Bahn group, is merging five units in Hungary and wants to offer universal logistics services in the country in the future, Elmar Wieland, Schenker chairman for Austria and Eastern Europe, said.

The merger of the units, which include the recently acquired Masped-Schenker and Masped-Railog, into Schenker Kft has already been approved by the competition authorities, Wieland said. The merger will officially take place on January 1, 2011, he added.

The merger will put Schenker Kft on the air, road, railway and sea freight markets as well as the markets for warehousing, customs services and delivery of heavy goods, said managing director of the unit Árpád Vásárhelyi.

Schenker Kft has annual revenue of HUF 22.9 billion, putting it among the country's top three haulage and logistics companies. (MTI – Econews)