3PL/Logistics

Luxembourg-based Logwin and Germany-based Augustin Network have agreed the terms for the sale of Logwin's Eastern European road and rail activities and general cargo network activities in Austria

The transaction is subject to cartel clearance by the relevant authorities

The transaction price has not been disclosed

The two logistics companies intend to co-operate closely in the future in the form of a preferred partnership, in particular for groupage, LTL and FTL transportation in Central and Eastern Europe

The sale is part of the agreed streamlining of land transportation activities within the Logwin Group

"With the sale of these Road + Rail companies in Austria and Eastern Europe, we are pressing ahead with the announced streamlining of our land transportation activities as well as increasing our focus on the areas of contract logistics and sea and air freight," said Dr Antonius Wagner, CFO of Logwin and COO of Road + Rail activities

According to Berndt-Michael Winter, CEO of Logwin and responsible for the Solutions business segment,

Austria and Eastern Europe will continue to remain core markets for Logwin even after the sale of the land transportation activities, and nothing will change for Solutions and Air + Ocean customers, who will continue to have access to the Austrian and Eastern European land transportation networks