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Geodis recognizes activities in Italy refocusing on freight forwarding …

Geodis recognizes activities in Italy refocusing on freight forwarding

London,July 19, 2014(STAT): Geodis and AF Logistics signed an agreement on the disposal of Z st Ambrosetti and the formation of a partnership between the two groups.

The partnership results from a clear strategic direction on the part of Geodis that consists in strengthening the Group s Groupage and Express network in France and developing its business in Europe through top-quality partnerships. Through the agreement, Geodis will be in a position to guarantee its customers the same high level of service quality for their groupage needs in Italy.

Geodis will continue to develop its Freight Forwarding, Contract Logistics and Road Freight (FTL and LTL) activities through its Geodis Wilson, Geodis Logistics and Geodis BM divisions, which have 720 employees in the country and generated ‘ 380 million in revenue there in 2013.

Under the agreement, AF Logistics, a subsidiary of the Ferrari Group, commits to take over all the employees and of the operating sites of the company and maintaining the Z st Ambrosetti brand. In addition, Z st Ambrosetti will, as part of the Ferrari Group, be the partner in Italy for Groupage and Express. Z st Ambrosetti will also continue to handle current transport from and to Geodis Logistics warehouses in Italy.

Z st Ambrosetti was acquired by Geodis at the end of the 1990 s. It employs 288 employees and achieves a turnover of ‘ 125 million in 2013.

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