Dachser buys majority share in air-sea firm Oy Waco Logistics Finland

GERMAN logistics giant Dachser has acquired Oy Waco Logistics Finland, an air and sea freight forwarder of Vantaa, which also operates from Lahti, Oulo, Tampere and Vaasa.

Last year Oy Waco Logistics Finland's 54 employees generated EUR24 million (US$32.5 million) in revenue. It was founded in 1996 by leading members of WACO (World Air Cargo Organisation) and three Finnish shareholders.

Besides Dachser, the only other remaining shareholder is the Japanese logistics company Nishitetsu Railroad (NNR). Dachser Air & Sea Logistics has collaborated with NNR for decades and operates other joint ventures in Germany and Hungary.

"Finland is an attractive market for air and sea freight. That's why we are making a point of increasing our involvement there," said Dachser Air & Sea Logistics managing director Thomas Reuter.

"We place great emphasis on stability and continuity for customers and employees, and so Waco Finland will continue to be a member of the World Air Cargo Organisation," he said.

The company will also work more closely with the Dachser network in the future, with the result that we will also be able to offer customers in Finland our entire air and sea freight service portfolio with the usual Dachser service and quality standards," Mr Reuter said.