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Hapag-Lloyd focusing on core activities
| 06.10.03 Hapag-Lloyd has agreed in principle with Kühne & Nagel Group on the sale of Pracht Freight Forwarding, based in Haiger near Frankfurt. The transaction, which is to be effective on January 1st 2004, is subject to approval from various bodies. The parties agreed not to release any details on the purchase price. Jochen Ganz, spokesman of the management of Pracht Freight Forwarding, welcomes the move: “Our integration into a globally active forwarding group will increase our opportunities in the market.” Pracht has belonged to Hapag-Lloyd Group since 1980. It is a leading company in European groupage traffic and contract logistics and achieved sales of close on €200m with a staff of nearly 900 last year.
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