Subscribe to our free, weekly email newsletter!


Dematic intends to acquire HK Systems

Acquisition is expected to close during Q3
By Bob Trebilcock, Editor at Large
August 06, 2010

Dematic, a leading global supplier of integrated material handling solutions and services, announces it has signed an agreement in principle to purchase HK Systems, a North American automated material handling and software solutions provider. The transaction is expected to close sometime in the third quarter of 2010.

The combined companies would generate about $1.2 billion, based on the 2009 revenues both companies reported to us for our annual look at the Top 20 Systems Suppliers, published in May. Dematic was the number 3 provider worldwide with $1 billion. The combined companies would still rank below Daifuku, which reported about $1.76 billion.

Roar Isaksen, president and CEO of Dematic Group, sent out an e-mail yesterday announcing the agreement. “We are very excited about this significant development,” he wrote. “The opportunity to bring these companies together is extremely positive. Combining two successful companies like Dematic and HK Systems means we will be able to achieve extraordinary business results for our customers and our employees.”

Isaksen continued that the merger will leverage the complementary technical strengths of both companies and bring together two players with strong engineering talent, a common vision and a common business strategy of delivering logistics solutions with a strong return on investment.

About the Author

image
Bob Trebilcock
Editor at Large

Bob Trebilcock, executive editor, has covered materials handling, technology and supply chain topics for Modern Materials Handling since 1984. A graduate of Bowling Green State University, Trebilcock lives in Keene, NH. He can be reached at 603-357-0484 and .(JavaScript must be enabled to view this email address)


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The questions for the most recent Semiannual Economic Forecast, which was released last week, included: 1-has the strength of the U.S. dollar had a negative, negligible or positive impact on their organization’s profits?; 2-has the net impact of the depressed prices of oil and related commodities been negative, negligible, or positive for their organization’s profits; and 3-how would they characterize the combined impact of their organization’s profits on the strength of the U.S. dollar and the depressed prices of oil and related commodities.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that that U.S. trade with its North America Free Trade Agreement (NAFTA) partners Canada and Mexico dropped 5.8 percent on an annual basis in March to $90.5 billion.

Shippers sourcing their goods out the Port of Oakland’s largest marine terminal will soon need to make an appointment drayage providers before their cargo is released.

U.S. Carloads fell 10.6 percent at 244,290, and intermodal containers and trailers were off 6.5 percent at 262,693.

Now that the deal, which had to clear several regulatory hurdles in multiple countries, is official, FedEx executives were able to speak a little bit more freely, albeit being somewhat guarded in regards to certain integration specifics at the same time.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA