The closing of this transaction is subject to government approvals.
Cronat, which trades under the "Natural" brand, is focused on forwarding and logistics services in Switzerland and other European markets. The company will continue to be managed in Switzerland by existing management. There are no redundancies planned due to the transaction.
"Natural has a strong and historic presence in Switzerland and it fills out an important portion of our global network," said Essa Al-Saleh, managing director corporate development of PWC Logistics.
This acquisition is also a business reunion between Natural and PWC Logistics' company GeoLogistics, which has a relationship with Cronat that stretches back to the 1920-ies.
"This is a groundbreaking development for the future of the Cronat Group," said Peter E. Crowe, CEO of the Cronat Group. "We're excited about becoming a part of the PWC Logistics organization and our markets are a perfect match."
In addition, Peter E. Crowe said he sees "significant growth opportunities for other activities, as well."
"In PWC Logistics, we have found a committed shareholder who provides a long-term vision for Natural," Peter E. Crowe said. "For our part we look forward to incorporating our competency in freight forwarding and logistical services into the global network of PWC Logistics."
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Natural to become part of PWC Logistics
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PWC Logistics, one of the leading global providers of complete logistics solutions, has signed an agreement to take over Basel-based Cronat Transport Holding AG.
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Posted by Anne-Birte Stensgaard, Senior News EditorMonday, July 10 - 2006 at 15:09 UAE local time (GMT+4)
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This article was updated on Mon Jan 22 2007.
Notes and Media Contacts »
About PWC Logistics
PWC Logistics is a global provider of integrated supply chain solutions, with more than 450 offices located in over one-hundred countries spread across six continents. Through its network of warehousing facilities and transportation and freight management services, PWC Logistics provides its customers with flexible solutions tailored to meet their business needs. PWC Logistics customers span a wide range of industries, with a global focus on technology and consumer electronics, retail and consumer products, oil and gas, government services, as well as regional focus on many other sectors.
PWC offers specialized logistics services, including exhibition and event logistics, and project forwarding through its subsidiaries, Trans-Link and Transoceanic Shipping. PWC Logistics' GeoLogistics subsidiary is a leading global freight management and logistics provider.
PWC Logistics is a publicly traded company.
About the Cronat Group
Cronat Transport Holding AG is a tradition-rich Basel-based logistics group, which focuses on forwarding and logistics services under its Natural brand. With wholly owned companies in Switzerland, France, Italy and the USA, as well as partners all over the world, Natural plans and coordinates the transportation of all types of goods across the globe. Natural is mainly active within the following market segments: oceanfreight, airfreight, pan European road transport; expologistics, projects & special transport, removals as well as logistics, distribution and warehousing. Natural has 600 employees. Natural is number three in the IATA ranking of forwarding companies in Switzerland, behind two international companies. More information on Natural and Cronat may be obtained at the company websites www.cronat.ch and www.natural.info.
For more information contact:
Nita Bhatkar
PWC Logistics
Tel: (+965) 809 222, Ext. 1154
Fax: (+965) 467 1013
Mobile: (+965) 722 3703
Peter Crowe, CEO Cronat Transport Holding
Phone: +41 61 316 52 10
www.cronat.ch
Distributed by ISIS Communications
Tel: +44 1737 248300 from outside UK
0845 130 1160 from within UK
PWC Logistics is a global provider of integrated supply chain solutions, with more than 450 offices located in over one-hundred countries spread across six continents. Through its network of warehousing facilities and transportation and freight management services, PWC Logistics provides its customers with flexible solutions tailored to meet their business needs. PWC Logistics customers span a wide range of industries, with a global focus on technology and consumer electronics, retail and consumer products, oil and gas, government services, as well as regional focus on many other sectors.
PWC offers specialized logistics services, including exhibition and event logistics, and project forwarding through its subsidiaries, Trans-Link and Transoceanic Shipping. PWC Logistics' GeoLogistics subsidiary is a leading global freight management and logistics provider.
PWC Logistics is a publicly traded company.
About the Cronat Group
Cronat Transport Holding AG is a tradition-rich Basel-based logistics group, which focuses on forwarding and logistics services under its Natural brand. With wholly owned companies in Switzerland, France, Italy and the USA, as well as partners all over the world, Natural plans and coordinates the transportation of all types of goods across the globe. Natural is mainly active within the following market segments: oceanfreight, airfreight, pan European road transport; expologistics, projects & special transport, removals as well as logistics, distribution and warehousing. Natural has 600 employees. Natural is number three in the IATA ranking of forwarding companies in Switzerland, behind two international companies. More information on Natural and Cronat may be obtained at the company websites www.cronat.ch and www.natural.info.
For more information contact:
Nita Bhatkar
PWC Logistics
Tel: (+965) 809 222, Ext. 1154
Fax: (+965) 467 1013
Mobile: (+965) 722 3703
Peter Crowe, CEO Cronat Transport Holding
Phone: +41 61 316 52 10
www.cronat.ch
Distributed by ISIS Communications
Tel: +44 1737 248300 from outside UK
0845 130 1160 from within UK
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