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Volvo receives Ft 16 bln order from Waberer's

Waberer's Holding Zrt is Hungary’s largest logistic wearhouse and customs network to expand its fleet, executives said. The Waberer Group consists of 23 Hungarian and 6 European companies wich are wholly owned or are member companies. The company group has 3000 employees that help your company provide combined transportation, Continental transportation and air transport carried overseas with storage, logistic and distribution techniques for perfect performance. Waberer’s has had 50 years of professional experience through predecessors, which is due to a lot of unique market research within the company. Volvo will deliver 1,000 trucks to Waberer's by 2008, boosting the fleet to 2,500 vehicles, Chief Executive Officer Attila Boros said at a press conference in Budapest today. Budapest-based Waberer's, which also operates freight units in eastern European countries Slovakia, Poland and Romania, is buying Volvo trucks as it aims to double sales to more than Ft 120 billion in three years. The company also wants to double sales in Romania and set up a fleet of 50 trucks in Poland this year. The Hungarian company may list its shares on the Budapest Stock Exchange through an initial public in two or three years, Waberer's Chairman György Waberer said today. Waberer's will also buy 1,000 truck trailers from Germany's Schmitz Cargobull AG through 2008, Boros said today. The company also agreed with Michelin & Cie., the world's largest tire maker, to provide maintenance for tires. American International Group Inc., which bought a stake in Waberer's through a private equity fund in 2004, may sell its shares in the company through the future IPO, Waberer added. (Bloomberg, Waberers.com)