Cargus buys Romtrans courier division

Cargus, one of the biggest players on the courier market, has acquired the courier division of Romtrans, the leading Romanian private freight carrier, according to sources on the market. “We have acquired the courier service division of a large Romanian transporter. We do not wish to reveal the name. Following the acquisition, we have increased our fleet by around 10%, to approximately 1,300 vehicles, also hiring a further 40 people,” Augustin Plesea, manager, and Cargus shareholder told ZF. According to Augustin Plesea, the value of the transaction is below five million euros. Romtrans representatives, on the other hand, confirmed the sale of the courier service division, but did not specify the buyer. “We have sold our courier service division,” said Costel Rachieru, sales manager for Romtrans. According to data supplied by company representatives at the time, Romtrans entered the domestic fast-service courier market in the summer of 2006, in order to compensate for the losses generated by a reduction in customs activities. Romtrans posted an approximately 81 million-euro turnover, up 5% on 2005, and a profit of 4.3 million euros, down 50% on the previous year.