PULLACH, Germany. May 03, 2016. IFCO Systems, part of Brambles, a ULD pooling company that includes CHEP, has acquired Empacotecnia SAS, a provider of reusable plastic crate (RPC) pooling services based in Colombia. Terms of the transaction were not disclosed.
Empacotecnia generated sales of US$3.3 million from six million RPC rentals last year. Founded in 2006, the company has seven service centers in Colombia serving major retailers Grupo Exito and Cencosud Colombia.
IFCO Systems CEO Wolfgang Orgeldinger said: “This acquisition complements our strong organic growth in South America by adding a successful market leader with strong financial returns and a promising growth outlook to the IFCO family.”
IFCO operates a pool of over 225 million RPCs in 37 countries to move perishables from producers to grocery retailers.
Part-sale of DB Schenker
BERLIN: May 04, 2016. Deutsche Bahn is to develop an implementation plan for a third-party minority holding in DB Arriva and DB Schenker. A final decision will be made later in the year according to a statement.
Chairman of the company’s supervisory board Utz-Hellmuth Felcht commented: "If we don't take action, the group's debt will increase substantially by 2020. A third-party equity interest limits the level of debt and creates the financial scope necessary to continue the quality and investment campaign in Germany
Felcht said for the next four years, €50 billion or 90 percent of the group’s total investment, will be spent on German rail operations with €20 billion being financed through internal resources. DB management board chairman Rüdiger Grube added: "Our express intention is for DB Arriva and DB Schenker to continue to be fully consolidated in DB's balance sheet."
TNT says goodnight to Innight
AMSTERDAM: May 04, 2016: TNT Express is to sell its overnight distribution subsidiary TNT Innight to the private equity firm Special Situations Venture Partners III (SSVP). Terms have not been disclosed and the deal is expected to close in the third quarter of 2016.
The company said the sale is motivated by the need to concentrate its resources on strengthening core express delivery activities.
TNT Innight was founded in 1964 as Kutzner NachtExpress Termindienst in Munich (right) and thus claims to have pioneered the overnight delivery business in Europe. TNT acquired the company in 1996 and currently provides distribution services to automotive, agriculture, healthcare and engineering companies. Due to customer requirements Innight operates its own network separate from TNT Express using 2,600 vehicles from 40 facilities in Northern and Central Europe.
Founded in 2001, SSVP manages a portfolio of seven companies with annual worldwide revenues of €1.5 billion. The company intends to operate TNT Innight under a new brand name.
Tough to make an airline profit from cargo...
GENEVA: May 04, 2016. IATA says its members reported a 2.0 percent drop in traffic - as measured in freight tonne-kilometers - in March while capacity rose 6.9 percent compared to the same period last year.
The weak results reflect subdued growth in world trade with the most significant fall in demand in Asia-Pacific and North America. Combined they account for some 60 percent of global freight traffic and reported monthly declines of 5.2 percent and 1.8 percent respectively.
"It is shaping up to be another tough year for air cargo. February 2016 world trade volumes were only 0.4 percent higher than at the end of 2014. And the expectations of purchasing managers give little optimism for an early uptick. The combination of fierce competition, capacity increases and stagnant demand makes this a very difficult environment in which to generate profits," said Tony Tyler, IATA’s director general and CEO.
…unless you’re a lessor
DUBLIN: May 05, 2016. LCI, the aviation subsidiary of the Libra Group, has provided ACT Airlines two B747-400 freighters for an ACMI operation on behalf of Qatar Airways and Saudia, Saudi Arabian Airlines.
Istanbul-based ACT Airlines, popularly known as myCARGO, is 49 percent owned by China’s HNA Group. The company operates a fleet of eight B747-400F/ERF aircraft on its own behalf as well as other airlines.
LCI executive chairman Crispin Maunder commented: “The demand for air cargo is beginning to show signs of revival again and LCI intends to play an important role going forward in this market, providing good quality dedicated freighters, such as factory-built Boeing 747-400F freighter aircraft, on lease to existing and new customers around the world.”