Yahoo Finance SATS completes Swedish acquisitions
The airline caterer expands its European footprint with the sale and purchase of two entities operating out of Stockholm Arlanda.
SATS has completed the acquisition of Terminal & Transporttjänst i Sigtuna AB (TT) and APH Logistics AB (APH) that was first announced on March 15.
The company, through its subsidiary WFS Sweden AB, owns 100% of the total issued shares in the capital of TT and APH.
Both TT and APH operate out of Stockholm Arlanda, the largest airport in Sweden. TT provides cargo handling and transportation services to airlines, freight forwarders and time-critical medical suppliers, while APH specialises in border inspection services with perishable and cold chain facilities, which complements the air cargo services provided by TT.
The group operates in seven of the top 10 cargo airports in Europe and five of the top 10 airports in North America and Asia, respectively. It manages 800,000 sqm of cargo warehouse space at or near airport locations, enabling the group to capitalise on growth across the cargo supply chain and benefit from stronger demand for e-commerce and specialised cargo handling for items such as pharmaceuticals and perishables.
Shares in SATS closed 1 cent lower or 0.358% down at $2.78.
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