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Waberer's buys rival, port operator

Waberer's Holding Zrt, Hungary's largest shipping company, bought its biggest local rival and a stake in the country's largest river port, CEO György Waberer told daily Népszabadság.

Budapest-based Waberer's purchased rival Révész Eurotrans Kft and a 50% stake in Multicont Logistics Zrt, which runs Hungary's largest port on the Danube in Budapest, Waberer said in an interview. The price wasn't disclosed for either transaction.
The purchase of Révész will boost the number of Waberer's Holding's trucks in international traffic by 500 to 2,000 and the company plans to buy a further 200, the CEO said.

 

Waberer's expects operating profit at Ft 4 billion on revenues of Ft 100 billion forint this year, up from a Ft 1.5 billion profit on revenues of Ft 60 billion last year.