LOGISTICS company CS Cargo Slovakia completed the acquisition of the transportation company mGal spedition Bratislava this February.
The takeover makes CS Cargo Slovakia the largest logistics company in the Slovak market. The company announced it plans to further increase its market share in storage and logistics services.
Stanislav Vencel, previous general director of mGal spedition and a 50-percent shareholder, became general director of the new firm as a result of the acquisition, CS Cargo Slovakia stated.
"In line with company strategy, we want to increase our share in the storage and complex logistics services market," Vencel, director general and the chairman of the board of directors of CS Cargo Slovakia, told the media.
Following the acquisition the company underwent personnel changes to enhance its managerial structure.
"I am convinced that the personnel changes will also significantly contribute to reaching our goal," Vencel said.
The companies announced the acquisition in November of last year. They decided not to disclose the purchase price.
The consolidated turnover of both companies exceeded Sk1 billion last year, SITA newswire wrote.
CS Cargo Slovakia is a member of the largest Czech transportation and logistics company, through which it is also part of CS Cargo Holding, N.V., an international holding in logistics services registered in the Netherlands.
CS Cargo Holding has been operating in the Slovak market since 2004. mGal spedition was created in 1996. The Slovak breweries of the SABMiller Group remain among their largest customers.
The acquisition also makes CS Cargo the largest logistics operator for SABMiller in Slovakia and the Czech Republic.
28. Apr 2008 at 0:00 | Marta Ďurianová