Logistics service provider Raben Group has taken a 20 per cent stake in Sittam, a major Italian player in groupage transport. With the purchase, Raben aims to further develop its European logistics network.
Raben now has branches in 11 European countries. Italy is an important addition for the logistics provider. "The Italian market is export-oriented and this is a potential we are interested in," said Ewald Raben, ceo Raben Group.
Sittam, which transports by road, sea and air, is based in Cornaredo near Milan. The company has 313 employees. Sittam expects the shareholding of Raben, whose core business is national and international groupage transport, to provide more stability. Sittam's customers will notice little of the acquisition, as long-term agencies will continue. ALS, which bought Sittam from CEVA in 2015, remains the company's main shareholder.
Editorial LogistiekProfs
