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Lufthansa Cargo takes over time:matters, will run it as separate company
LUFTHANSA Cargo has taken over complete ownership of the time:matters Group, specialists in global same-day delivery and time-critical spare part logistics.
The cargo airline, which spun off time:matters as a subsidiary in 2002, had already held a 49 per cent share. Financial investor Aheim Capital and time:matters management had held the majority 51 per cent shareholding.
Lufthansa Cargo and time:matters had already been cooperating successfully on express products. The takeover is in line with the Lufthansa Group's "7 to 1: new concepts for growth" strategy.
"Time:matters has established itself in recent years as the leading specialist for same-day delivery and emergency logistics in Europe," said Lufthansa Cargo CEO Peter Gerber.
"With time:matters, we are aiming to grow our business in the special segment as well. Our focus is all about maximum reliability, exceptional service and customised solutions," he said, adding that time:matters is to be maintained as an independent company.
Said time:matters CEO Franz-Joseph Miller: "With its technology and service platform, hardly any other logistics company can match time:matters in terms of service and flexibility.
"Since 2006, we have almost quadrupled our revenue to over EUR65 million [US$72.5 million]," he said, adding that there is enormous growth potential in the segment.
The cargo airline, which spun off time:matters as a subsidiary in 2002, had already held a 49 per cent share. Financial investor Aheim Capital and time:matters management had held the majority 51 per cent shareholding.
Lufthansa Cargo and time:matters had already been cooperating successfully on express products. The takeover is in line with the Lufthansa Group's "7 to 1: new concepts for growth" strategy.
"Time:matters has established itself in recent years as the leading specialist for same-day delivery and emergency logistics in Europe," said Lufthansa Cargo CEO Peter Gerber.
"With time:matters, we are aiming to grow our business in the special segment as well. Our focus is all about maximum reliability, exceptional service and customised solutions," he said, adding that time:matters is to be maintained as an independent company.
Said time:matters CEO Franz-Joseph Miller: "With its technology and service platform, hardly any other logistics company can match time:matters in terms of service and flexibility.
"Since 2006, we have almost quadrupled our revenue to over EUR65 million [US$72.5 million]," he said, adding that there is enormous growth potential in the segment.
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