KNAPP UK Ltd, Growth plans move ahead

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Growth plans move ahead
August 1st 2008

Austrian warehouse automation supplier Knapp AG has purchased Swedish logistics firm Moving AB from Atle Industri for about €10m.

With Moving AB having operations in Sweden, Denmark and Norway, the acquisition strengthens the position of the Knapp group in Scandinavia and provides the foundation for further market development both there and in Russia and the Baltic States. Eduard Wünscher, member of Knapp's management board, comments "The acquisition of Moving is part of our growth strategy, as the company is a good fit with regard to geographical location, products and know-how. Consequently, we are sure the acquisition is right for us and we look to the future with the greatest confidence."

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