Agility, one of the leading global providers of integrated logistics solutions, has signed an agreement to take over Oy Nystrom and Company 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.

Nystrom, 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 euros 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 Nystrom 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 Nystrom enables Agility to leverage the synergies of combined freight across the Nordics. Nystrom’s customer base benefits from additional access to Agility’s comprehensive global network and varied portfolio of services.

'The acquisition of Nystrom continues our expansion in the Nordics, where the focus is to build on the significant growth achieved in 2008,'  said Chris Price, managing director for Agility’s European Area North.'

'It also clearly shows that Agility follows its long-term strategic goals independently of the economic difficulties the industry currently faces,' he added.

Nystrom will be rebranded to Agility and the company will continue to be managed by the existing CEO, Jan-Erik Skogster.

There are no job cuts planned as a result of the merger. Nystrom will continue to provide the same high level of personal service their customers have come to expect, he added.-TradeArabia News Service