Austrian transportation and logistics company "Gebruder Weiss" to invest 100m EUR in east and southeast Europe prior to 2011

Austrian transportation and logistics company "Gebruder Weiss", which became the majority owner of Serbian "Eurocargo" last month, is going to invest 100m EUR in east and southeast Europe prior to 2011.

That amount, a part of which was invested in the takeover of company "Eurocargo", is included in the Austrian company's plan for development of business in the period 2007-2011.

In Serbia, where "Gebruder Weiss" took over 75% of freight-forwarding company "Eurocargo", Austrian company plans to become one of the three leading freight-forwarding companies and the strongest logistics company.

(Wolfram Seneger-Wieiss)

- We will do our best to become leaders in provision of logistics services and solutions, and we believe that we will be able to do that prior to year 2011. Therefore, it is clear that we will keep investing in Serbia and the region - Wolfram Seneger-Wieiss, the CEO of the company, pointed out.

Regional Manager of the company, Erich Schafer, said today that "the synergy will contribute to broadening of the spectrum of logistics solutions in Serbia, as well as growth of share of value added services such as tracking goods or transporting dangerous goods".

"Gebruder Weiss" is present in Serbia since 2004. Its branch office in Serbia registered net turnover of 5.6m EUR and transported 55,000 tons of goods in 2008.