BASEL, Switzerland, -- Agility, one of the leading global providers of integrated logistics solutions, has signed an agreement to take over Oy O. Nyström & Co. AB based in Vantaa, Finland. The acquisition positions Agility as a leading logistics provider in Northern Europe and marks an important milestone in the company's Pan-European development.
Nyström, previously Agility's Air and Ocean agent in Finland, was established in 1932 and is focused on forwarding and logistics services with 35 employees and annual revenues of €15 million. It is a leading provider of airfreight services in Finland and currently ranks no. 2 for volume in the most recent IATA listings.
Europe's Nordics—Sweden, Norway, Denmark and Finland—are of strategic importance to Agility because as specialized economies, they represent a disproportionately high amount of trade relative to their Gross Domestic Product. A year ago, Agility in the Nordics consisted of a Swedish entity, with a minority stake in a Joint Venture in Denmark and agents in Norway and Finland. After successfully acquiring a hundred per cent shares of CF GeoLogistics A/S (Denmark), establishing offices in Oslo to facilitate overland transportation, and the latest acquisition of Nyström in Finland, Agility has extended its coverage to provide a complete solution for Northern Europe with a solid platform for further expansion.
The acquisition of Nyström enables Agility to leverage the synergies of combined freight across the Nordics. Nyström's customer base benefits from additional access to Agility's comprehensive global network and varied portfolio of services.
"The acquisition of Nyström continues our expansion in the Nordics, where the focus is to build on the significant growth achieved in 2008. It also clearly shows that Agility follows its long-term strategic goals independently of the economic difficulties the industry currently faces." said Chris Price, Managing Director for Agility's European Area North.
Nyström will be rebranded to Agility. There are no job cuts planned as a result of the merger. The company will continue to be managed by the existing CEO, Jan-Eric Skogster and will provide the same high level of personal service their customers have come to expect.
Agility is one of the world's leading providers of integrated logistics to businesses and governments. It is a publicly traded company with $6.3 billion in annual revenue and more than 32,000 employees in 550 offices and 100 countries. Agility brings efficiency to supply chains in some of the globe's most challenging environments, offering unmatched personal service, a global footprint, and customized capabilities in developed and emerging economies alike.
Agility's commercial division, Agility Global Integrated Logistics (GIL), is headquartered in Switzerland and provides supply chain solutions to customers in technology, retail, chemicals, and other industries. Agility Defense & Government Services (DGS), based in Washington, offers logistics services to governments, relief agencies and international institutions worldwide. Agility Investments, based in Dubai, draws on local insights from Agility's global network to identify real estate and private equity opportunities in Asia, Africa and the Middle East.
About Oy O. Nyström & Co.
Oy O. Nyström & Co. AB is a privately held company established in 1932 with offices in Vantaa, Finland. In 2007 revenue was circa €15 million. The business has a strong focus on air freight, however has good capabilities in ocean, road, warehousing and brokerage. Nyström is number two in the IATA ranking of forwarding companies in Finland. Nyström has 35 employees and holds ISO accreditations 9001 & 14001.