January 7 - Sweden's Bj
The deal was concluded on December 30th, but discussions continue with at least two of the companies' management teams regarding the possibility of management buy-out deals (MBOs).
NTN was the largest independent logistics network in Norway and an international provider of logistics and door-to-door cargo services. Many of the 16 companies are active in the field of project cargo forwarding and logistics. With its origins dating back to 1849, it is also one of Norway's oldest transport companies.
By the end of 2009, NTN was present in ten countries and it conducted its activities through over 30 fully-owned companies and a global network of partners, enabling it to offer its clients a wide range of logistics solutions suited to their needs. The Björk.Eklund Group shares with NTN the ability to offer a full range of logistics solutions including worldwide door to door cargo services and the belief that this should all be possible via one point of contact.
According to Stefan Björk and his partner, Björn Eklund, the Björk.Eklund Group management team felt that many of the NTN companies would offer an effective fit with existing Björk.Eklund companies, so strengthening and giving new opportunities to the fast-growing Gothenburg-headquartered group.
Björk and Eklund said: "Together with these NTN companies, we will become an even stronger force in the Scandinavian market. We will have offices in more locations and hence a more dominant position in the Nordic-Baltic region.
"We have acquired the majority but not all of the companies in the NTN Group and have offered positions to around 250 of its staff."
The sixteen companies are:
Asia Maritime Logistics Pte Ltd
Bergen Cargo A/S
Birger Ekerholt A/S
NTN Denmark A/S
NTN Larvik Logistkcenter A/S
NTN Latvia SIA
NTN Lithuania UAB
NTN Shipping A/S
Schiander Moss Shipping A/S
Schianders Shipping Drammen A/S
Schianders Intersped A/S
Schianders Intersped AB
Ths Arbo Högh & Co A/S