Business Services Industry
Exel acquires German Logistics provider.
Warehousing Management, March, 2001
Exel has announced the acquisition of Werthmann Koster, a German automotive logistics provider. The acquisition strengthens Exel's Automotive Worldwide division in Germany and provides increased development opportunities for its business activities in Central Europe. Exel was No. 2 in WM's Big 50 (see October 2000, p.22) with 29.5 million square feet of North American warehouse space.
Werthmann Koster, founded in 1901, has roughly 375 fulltime and 850 part-time employees and offers supply chain solutions for car manufacturers and suppliers such as Volkswagen, Audi, Skoda, Karmann, Volvo and Faurecia.
The acquisition is of strategic importance for Exel, coming at a time when increased globalization has led to growing demand from customers for...
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