Kuehne+Nagel Plans To Acquire Eastway

(RTTNews) - Kuehne+Nagel (KNIN.SW) announced its intention to acquire Eastway Global Forwarding Ltd. Eastway is a family-owned company, headquartered in Limerick, Ireland. It is a logistics provider in the aerospace industry. Upon closing, Eastway will become a fully owned subsidiary of Kuehne+Nagel.

Eastway offers time critical aircraft-on-ground services, aircraft engine logistics, aviation logistics & warehousing, and customs brokerage services. It also provides full lifecycle services for the aviation leasing industry.

Yngve Ruud, Member of the Management Board, responsible for Air Logistics, said: "The acquisition supports our targeted bolt-on acquisition strategy by strengthening our aerospace logistics offering globally and accelerating our growth ambitions in the fast-developing aerospace industry."