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KNAPP acquires Moving AB

The Austrian warehouse automation supplier KNAPP AG has purchased the Swedish logistics firm Moving AB from its owner, Atle Industri. With Moving AB having operations in Sweden, Denmark and Norway, the acquisition – which took place on 3 June – strengthens the position of the KNAPP group in Scandinavia and provides the foundation for further market development both there and in Russia and the Baltic States. Moving AB, founded in 1969, has an excellent reputation in the Nordic countries, having provided logistics solutions for many top companies including H&M, Toys R Us, Clas Ohlson and Volvo. Headquartered in Astorp in southern Sweden, Moving AB has 140 employees and its turnover in 2007 was some 30 million Euros. “As of today,” says Eduard Wünscher, member of KNAPP's management board, “we will – together with Moving – be a solution provider in Scandinavia, offering our clients everything from product development to installation, service and modernisation for distribution centres and production warehouses. The acquisition of Moving is part of our growth strategy, as the company is a good fit with regard to geographical location, products and know-how.

Consequently, we are sure that the acquisition is right for us and we look to the future with great confidence.” Ulf Jansson, CEO of Moving AB, agrees that there is synergy in the acquisition: “Moving is one of the main contenders on the local market, and KNAPP on the global market. Our products are complementary, allowing us to offer the market even better solutions and technologies. The strength Moving gains by joining KNAPP means that we can compete for even larger and more complex systems.” Moving will operate as an independent company within the KNAPP group and all projects in Scandinavia will be implemented in such a way as to guarantee customers the best possible solution, whatever the application. For KNAPP's existing customers in Scandinavia, service and maintenance can now be undertaken by Moving.

KNAPP enjoys its most successful year
The year 2007-08 has been the most successful year ever for KNAPP, with the group enjoying its largest volume of orders to date. New branches have been opened in emerging markets and the group's total number of employees worldwide has reached over 1550. As part of this growth, KNAPP has also won its largest ever contract, placed by a leading US health and beauty company. The project, to be installed during 2008, is managed by KNAPP's Integrated Projects division, based in Graz, Austria. Both revenues and earnings rose significantly in 2007-8. Consolidated revenue grew by 11.2%, from EUR 176.4 million to EUR 196.1 million, meaning that KNAPP has doubled its turnover over the last five years. EBITDA increased by 37.9%, from EUR 13.2 million to EUR 18.2 million, and the EBITDA margin for the financial year 2007/08 increased to 9.3%, compared to 7.5% in 2006/07.

Accolade won at CeMAT
KNAPP exhibited at CeMAT in Hannover – the world's leading logistics trade fair – for the ninth time, with an impressive 370m􀀁 stand. KNAPP was delighted to receive the 'Logistik- Award' in the storage systems category from the magazine MM MaschinenMarkt for its revolutionary Speeder-System, a modular storage system for plastic containers and cartons.The award ceremony took place at CeMAT on 27 May.

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