DB Schenker completes acquisition of Romanian forwarder

DB Schenker successfully completed the acquisition of the Romanian freight forwarding company S.C. Romtrans S.A. following the registration of the company with the Romanian Trade Registry.

Over the past few weeks, DB Schenker acquired more than 99 percent of Romtrans shares based on a takeover bid submitted to Romtrans shareholders through Schenker & Co AG, Vienna. The Romanian forwarder is now an integral part of DB Schenker's international transportation and logistics network.

The competition authorities in Romania, Germany, Austria and Hungary issued the necessary approval in November.

Even in difficult economic times, Romania remains one the fastest growing economic regions in the European Union and an attractive market for DB Schenker. Deutsche Bahn's transportation and logistics subsidiary wants to have a greater share of this market growth than has been possible so far and to exploit new customer potential with a local presence.

Based in Bucharest, S.C. Romtrans S.A. is Romania's largest forwarding company with revenues of more than EUR 90 million and approximately 1,500 employees. In the 14 years since it was privatized in 1994, Romtrans has successfully evolved from a state-owned undertaking to a dynamic group of companies, which now has nine branch offices in Romania as well as sales companies in Germany, Austria, Benelux, Hungary, Moldavia and Georgia.

The company offers a full range of Intermodal products in the land, air and ocean freight sectors as well as rail forwarding and customs clearance services. It also operates a successful multimodal transportation location at the Black Sea port of Constanta.<Korea Shipping Gazette>