Schenker AG plans to acquire 100 percent of Spain-TIR, a Spanish group of logistics companies. According to Schenker, the target has an extensive service network in Spain and Portugal, one that supplements the acquirer's European land-transport network. Norbert Bensel, chairman of the transportation and logistics division of parent company Deutsche Bahn AG, said Schenker is consolidating its operations in that region. "We can offer our customers on the Iberian Peninsula all modes of transport, including rail from a single source, plus direct access to our global network," he said. Spain-TIR has been in operation for around 30 years. It has 19 branch offices on the Iberian Peninsula, 16 in Spain and three in Portugal, with 92,000 square meters of storage and 46 franchisees. Revenues last year were $273m. Spain-TIR's corporate management and workforce of more than 800 will be fully integrated into the Schenker organization.
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