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Business news in brief: Danish transport giant makes huge US acquisition
TheCopenhagenPost
October 12th, 2015
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This article is more than 9 years old.
Transport firm extending its reach (photo: DSV)
The Danish transport and logistics company DSV has acquired the US company UTi Worldwide for 9 billion kroner. UTi has revenue of 3.9 billion dollars and employs 21,000 people in 58 countries.
Kurt K Larsen, the chairman of DSV’s board, emphasised the synergy the company hopes to achieve by the takeover.
“We complement each other perfectly, both in terms of business activities and geography,” he said.
Danish investments abroad outstripping investments in Denmark
Figures from the central bank Danmarks Nationalbank show that since the financial crisis Danish investments overseas have far outstripped investments in Denmark, Berlingske Business reports. Since 2007 Danish direct investments abroad have increased by 475 billion to 1,120 billion kroner, whereas foreign investment in Denmark is 57 billion kroner lower.
But, according to Klaus Rasmussen, a head economist at the industrial advocate organisation Dansk Industri (DI), it’s not unmitigated bad news for Denmark.
“But it’s not just a bad thing that Danish companies outsource production and invest more in other countries. It makes the companies stronger and they get returns on their investments that come back home,” he said.
“At the same time investment in other countries can contribute to companies having better access to these markets.”
“Together, we will be even stronger and able to capitalise on business synergies as well as a greater global reach to the benefit of shareholders, customers and employees. We look forward to joining forces and welcoming our new colleagues from UTi to DSV.”
Copenhagen Airport breaks passenger-number record, again
Almost 2.5 million passengers used Copenhagen Airport in September, bringing the number of passengers in the first nine months of the year to more than 20 million: a new record.
Thomas Woldbye, the airport’s CEO, put the increased numbers down to a number of factors and sees the increase as a good thing for Denmark’s economy.
“We had a strong month in September, with traffic growing on both long-haul and European routes. More routes and higher frequencies mean we are able to attract more tourists and business travellers to Denmark, and the number of incoming travellers has increased,” he said.
“It also makes the world’s markets even more accessible for the business community. This is essential for creating growth and jobs throughout Denmark.”
Agricultural giant DLG Group gets new finance boss from Lego
DLG Group, one of the largest agricultural companies in Europe, has recruited Lars T Bruhn as its group treasurer, with responsibility for financial matters across the group. Bruhn comes to the position from Lego, where he was head of finance for seven years. He also has positions at Vestas, Danfoss and Nordea on his CV.
DLG group is the eighth biggest company in Denmark in terms of turnover. Bruhn’s job will include reducing costs and developing risk management strategies at the group’s subsidiaries.
Pandora expands co-operation with Disney
The Danish jewellery giant Pandora has expanded its strategic alliance with Disney to include the Asia Pacific region. From November this year the company will begin launching a Disney-themed collection of jewellery in 13 markets in the region, including Australia, China and Japan.
Anders Colding Friis, the CEO of Pandora, said he expects the products to be received well in the new markets.
“The reception of the Pandora Disney collection in North America has been amazing, and following discussions with Disney, we have together decided to expand the collaboration to include Asia Pacific. We believe that the collection will fit well with the populations in Asia and Australia, and look forward to offer our Disney-inspired products to our customers in the region,” he said.
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