Friday, July 29, 2011

Toll Group Logistics Expands European Freight Forwarding Business

Acquires German Company to Reinforce Position
Shipping News Feature

AUSTRALIA / GERMANY – Toll Group, Australia’s biggest logistics company, has expanded its European freight forwarding operation by acquiring Hamburg-based Andree & Wilkerling (AWG). The German company specialises in ocean freight forwarding services for the retail and consumer goods, chemicals and steel material sectors.

Speaking of the acquisition Hugh Cushing, CEO of Toll Global Forwarding, said that:

“Germany is a critical market and key element in our Europe and Middle East (EME) growth strategy. Continuing to build on our service offering and volumes will allow us to compete aggressively with the major forwarders in the European market.

“Importantly for Toll, AWG is focused on Asia and Middle East ocean freight, and provides a mix of less than a container load (LCL), full container load (FCL) and ocean import and export services. AWG is also one of the leading German providers of weekly consolidated container movements to North Africa and the Middle East."

AWG reported revenues for 2010 of £13.3 million (US$21.7 million / A$19.8 million) and Toll state that they expect the strength of the German economy to reflect on stronger returns in the future.

The move is the latest in a series that Toll has made to improve its service offerings in Germany and Europe.

“The acquisition will strengthen Toll Global Forwarding’s presence in Germany, Europe’s largest logistics market, by adding an established ocean freight service to the existing airfreight and sea-air import offer,” Cushing added.

“AWG gives us critical mass in Hamburg, one of Germany’s leading ocean freight gateways. This, coupled with our strong presence in the country’s main airfreight entrance at Frankfurt, means we are now positioned to give our customers a complete service offering.”