Hyundai’s logistics division Hyundai Glovis has acquired a finished vehicles logistics company named Adampol to increase the investment capabilities of both companies and obtain synergy in logistics market.
Adampol is a Polish company that serves 400,000 luxury brands including BMW, GM and Toyota all across Europe and the company recorded sales of $125m to become one of the biggest logistics company in Europe.
Adampol told Korean Herald: "The corporate value of Adampol is more than 70 million euro, which is the highest among foreign logistics companies that merged with local companies."
Hyundai Glovis presently operates in 10 countries and the move to acquire Adampol was triggered by its expansion plan.
Source:
http://www.automotive-business-review.com/news/hyundai-glovis-acquires-adampol-to-expand-its-presence-in-europe-201114-4446646
