Schenker completes takeover of Spain-TIR

DB subidiary continues to expand its position in the field of European land transport. Tighter network on the Iberian Peninsula

News Item Entered: Friday, September 28, 2007

(Barcelona, 27 September 2007) Deutsche Bahn subsidiary Schenker today completed its takeover of the Spanish logistics group Spain-TIR.

The contract of purchase was signed as long ago as August 2, 2007, but it was only last week that the official authorization, without which the acquisition could not become a reality, was granted by the authorities.

This takeover makes it possible for Schenker to continue expanding its European land transport network, especially on the Iberian Peninsula. Over the last three decades, Spain-TIR has grown to become a leading supplier of land transport services in Spain and Portugal. Spain-TIR has its own network on the Iberian Peninsula, consisting of 19 branch offices – 16 of which are located in Spain and three in Portugal – a storage area of 92,000 square meters, plus 46 franchisees. The company, which operates in the field of general cargo, direct services and logistics, has a workforce of over 800 employees and last year generated revenues of around EUR 200 million.