Jetpak acquires AdenaPicko's

Jetpak acquires AdenaPicko's SAS-owned Jetpak Nordic AB has acquired Schenker-BTL's interest in the AdenaPicko's messenger and delivery service company. The ownership structure means that in future AdenaPicko's is incorporated in the Jetpak Group. AdenaPicko's has had good cooperation with Jetpak in Sweden for some time and new investments are planned. "The intention is to further develop the good cooperation between AdenaPicko's and Jetpak to include new services and expansion into new geographical markets," says Einar Longva, President of the Jetpak Group. "Both companies are active in a segment that is undergoing major changes. Combined, we can meet new challenges - Jetpak with express shipments and AdenaPicko's with local pick-up/delivery and technical logistics. Joint IT investments, particularly in e-commerce, will reduce costs. However, it is important the each company's focus on its operations is retained," continues Einar Longva. "We are in full agreement about how AdenaPicko's shall develop. Jetpak and Adena have much in common and it is against this background that we are now withdrawing from ownership in the knowledge that AdenaPicko's is in good hands," says Claes Berglund, Marketing Manager at Schenker-BTL. Prior to the acquisition, AdenaPicko's was equally owned by Jetpak Nordic AB and Schenker-BTL. The parties have agreed not to disclose the selling price. More about AdenaPicko's AdenaPicko's has been conducting messenger and delivery services in Sweden for many years and is well established. It conducts its own operations in Stockholm, where it has some 50 employees, 80 haulage contractors and annual sales of SEK 150 M. Through franchising, Adena operates in 70 other locations, with more than 300 vehicles nationwide. More about Jetpak Jetpak Nordic AB is a wholly owned subsidiary of SAS and a market leader in same-day logistics in the Nordic region. Operations are conducted by subsidiaries in Sweden, Denmark and Norway, while operations in Finland are developed through a cooperation with Finnair. Jetpak is one of the fastest growing companies in express logistics in the Nordic region, with same-day delivery to all major business areas within Europe and of standard express products to 220 countries worldwide. For more information, contact: Einar Longva, President, Jetpak Nordic AB, +46 8 797 55 30. SAS CORPORATE COMMUNICATIONS ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/02/20010402BIT00780/bit0001.doc http://www.bit.se/bitonline/2001/04/02/20010402BIT00780/bit0001.pdf