Schenker, a subsidiary of DB, plans to acquire 100 percent of the shares of the Spanish logistics group Spain-TIR. A relevant agreement was signed at the beginning of August. The planned acquisition of Spain-TIR, a leader among land transport service providers (in Spain and Portugal), will be a major step forward for the development of Schenker’s operations on the Iberian Peninsula. Currently, Schenker is represented in Spain and Portugal by local subcontractors. The acquisition of the shares will enable Schenker to further expand its European land transport network.
– By acquiring Spain-TIR, we are strengthening our European network in a region with great potential and economic growth. We are able to offer our customers on the Iberian Peninsula all types of transport, including rail transport, from a single source, as well as direct access to our global network – said Dr. Norbert Bensel, CEO of the Transportation and Logistics Division at Deutsche Bahn AG.
– Spain-TIR has an extensive system of connections in Spain and Portugal, which will significantly strengthen the European land transport network belonging to Schenker. Strengthening our network in this region meets the expectations of our customers, as together we can offer better solutions – added Hans-Jörg Hager, member of the Management Board of Schenker AG, responsible for European land transport.
Spain-TIR has its own logistics network on the Iberian Peninsula. It consists of 19 branches, 16 of which are located in Spain, 3 in Portugal, as well as 46 franchisees. The company has 92,000 sqm of warehouse space. Spain-TIR, which deals with goods distribution and logistics, employs over 800 people and in 2006 achieved revenues of approximately 200 million EURO.