1 September saw Teneso Europe SE Partner & Swedish specialist logistics company MTAB establish a subsidiary in Norway, MTAB Norge AS, through the purchase of Ontime Logistics’ specialist logistics division.
MTAB is taking over the division of Ontime Logistics (formerly Cargo Partner, a long-standing player in Norway) which handles specialist logistics and associated warehousing activities. The offices and warehouse, measuring over 1,000 m2, are located in Oslo and the division turns over NOK 8.5 million per year.
”We wanted to develop our capabilities and were actively looking for a company with a similar product portfolio as ourselves. We are very pleased to have found a buyer who matches our current profile and service requirement’s so perfectly. We are confident that MTAB is the solution Ontime Logistics needed and we know that existing customers will continue to be well taken care of”, says CEO of Ontime Logistics, Aniela Gjøs.
“Our strategy is to be the Nordic region’s leading player in the niches where we are active: Technical Distribution and Art & Exhibition Logistics,” explains Simon Fors, Managing Director of MTAB.
MTAB currently has several customers who see the whole Nordic region as a single market. This growing international trade creates a greater need to have just one supplier for expert transport and value-added services.
“In these prevailing market conditions, MTAB is ideally placed to be seen as a natural Nordic partner,” says Simon Fors.
“By taking over an established operation with three qualified and experienced members of staff, we will quickly have a local platform,” comments Simon Fors. “We will then be incorporating those parts of MTAB’s business that are not yet covered within the existing framework. Our strategy is to retain and, above all, expand the current business and make it more profitable. We see clear market potential on both the art front and the technical front.”
“MTAB’s product range and commitment to high quality will be a feature of every market in which we are active. We aim to have a local presence with local employees and to see growth in all our geographic markets,” concludes Simon Fors.
