Logistics service providers
Logistics service provider trans-o-flex changes ownership
Austrian Post has reached an agreement with a strategic investor (who has not been named) on the sale of its German subsidiary trans-o-flex. trans-o-flex is a logistics company with annual sales of around EUR 500 million, focusing on industry solutions for pharmaceuticals, healthcare and consumer electronics in Germany.
"An agreement on the sale has now been reached with a strategic investor from Germany, who will continue on the path of consolidation and focus on the core business," the ad-hoc release states.
"With the solution we have chosen, we have made a clear decision that also represents a positive development perspective for trans-o-flex," says Dr. Georg Pölzl, CEO of Austrian Post. At present, one can only speculate about the selling price of trans-o-flex. Around ten years ago, Austrian Post acquired the German company for around EUR 300 million, but in the past has repeatedly taken write-downs, which in many media reports turned the subsidiary into a "problem child". In the press release on the publication of the annual figures of the ex-trans-o-flex parent company Österreichische Post, the following sentence alone can be found:
Impairment losses totaling EUR 131.9m were recognized (at Austrian Post, editor's note), the majority of which related to the sale and structural measures of the subsidiary trans-o-flex, where a non-cash impairment loss of EUR 125.8m was recognized on goodwill and assets (non-cash).
trans-o-flex recently appeared in the news when it became known at the beginning of February that former Hermes boss Frank Iden
. The previous CEO, Max Moser, announced his retirement at the same time. It is not yet known to what extent the latest development was related to this personnel announcement.
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