The Rolf Group, Russia’s leading automotive business and local Mitsubishi importer and distributor, has confirmed it has started due diligence to combine its vehicle logistics business with that of the Helsinki-based Avelon Group, previously known as Skandia Autologistics.
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“The transaction is designed to create the leading vehicle logistics business in Russia and northern Europe in which Rolf would hold a significant majority,” Rolf said in a statement issued in response to market rumours on Monday.
“A combined business would expect to report revenues of around US$500m in 2009 and would then employ more than 1,200 people across seven countries,” the statement added.
No other details were forthcoming.
Rolf upbeat on Russia market prospects
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