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Kuehne and Nagel to acquire Drude Logistik

Kuehne and Nagel has entered into an agreement to acquire Carl Drude GmbH & Co. KG, located in Hauneck / Bad Hersfeld, the geographical centre of Germany. This
transaction is in line with Kuehne and Nagel’s strategy to further expand
its European overland network and to establish an European hub &
spoke system. As of mid 2012, Kuehne + Nagel will operate daily lines
to 50 European economic centres via this central platform.

Drude Logistik, founded in Bad Hersfeld in 1894, is specialised in hub
operations for international groupage networks. Its logistics centre in
Hauneck / Bad Hersfeld accomodates a 7,200 square metre transshipment
terminal with 105 loading bays. 150 employees provide hub services and
ensure high quality and security levels. In addition, the company has
around 11,500 square metre warehouse space under its management.

"Through the acquisition of Drude Logistik we get access to a highly
capable hub operation for our international groupage activities. Drude
Logistik fully meets our requirements regarding expertise, geographical
position and infrastructure", said Dirk Reich, Executive Vice President,
Kuehne and Nagel International AG, responsible for Road & Rail Logistics.

"Acting as our new Eurohub, it enables us to increase the number of
departures, reduce lead times and achieve a better capacity utilisation due
to a consistent consolidation and overnight transshipment operations. As
a result, all Kuehne and Nagel locations linked to the Eurohub will benefit
from improved service levels. The new routing via the Eurohub will be
finalised until mid 2012".

Currently, Kuehne and Nagel’s European groupage network has established
line services between 38 countries across the continent, routed via its
central hub in Haiger, Germany. Due to capacity constraints, this location
does not allow any further expansion of international groupage activities.

In Germany, Kuehne and Nagel will continue to partner with the German
groupage network IDS, covering 11 of its franchise areas. The national IDS
hub is located in Neuenstein-Aua.

The agreement is subject to approval of the antitrust authorities. Both
parties agreed to not disclose the pruchase price.

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