||July 5, 2010
FREJA expands in Sweden
FREJA Transport & Logistics A/S continues our expansive strategy in the North. The Nordic market is under tough competition among the large players and the tendency is continued mergers and acquisitions in the business.
In order to secure that FREJA will continue to be competitive and further strengthen our position the North, we have through our subsidiary FREJA Transport & Logistics AB made an agreement to take over ATS Cargo AB in Växjö on July 1st 2010.
ATS Cargo AB is a highly well run company with seven employees who base their work on the same values and attitudes as FREJA. The company has its roots in Växjö area and has its primary strength in internordic traffics.
The company had a turnover in 2009 of SEK 60 mill. and an EBITDA of SEK 5 mill. The activities in ATS Cargo will be continued unchanged in cooperation with the other FREJA companies in the Nordic countries. Likewise ATS Cargo AB will be connected to FREJA`s continental traffic system. The former owners, VD Anders Ulfsson and market manager Thomas Johansson, will continue as respectively branch manager in Växjö and market manager.
ATS Cargo AB supplements strategically well the activities FREJA started in Sweden in 2007 and supports the long-term strategy of continued expansion and geographic spreading on the Swedish market.
The merger is expected to contribute with a turnover of approx. SEK 35 mill in 2010.
With the take over of ATS Cargo AB, FREJA in Sweden employs approx. 120 people and expect a turnover of approx. SEK 800 mill in the Swedish group in 2010.
With head office in Skive (DK) and Danish offices in Taastrup and Stilling; Finnish offices in Helsinki, Vaasa and Turku; Norwegian offices in Oslo, Bergen and Stavanger; as well as Swedish offices in Stockholm, Jönköping, Helsingborg and now also Växjö, FREJA Transport & Logistics A/S employs approx. 500 people in the group in total. We expect a turnover of DKK 2 b. (EUR 270 mill.) for 2010.
For further information please contact Jørgen J. Hansen at tel. 0045 9670 5101 or VD Martin Sundsvold at tel. 0046 4212 6161.