DSV - A history of M & A.
The core of that clique profile is centered on mergers and acquisitions. DSV acquired -- some say it was to be a merger amongst equals -- the Dutch Frans Maas group.
Mergers and acquisitions are activities that take set in a craft environment, but the mechanisms can be translated to the organization; organizational commission too are continuously merging.
Mergers are an pay dirt to a changing trade environment. As in that representation. "the transport sector is subject to a continuous consolidation process driven by globalization and the consequent increment in cross-border deal..." that paragraph is from the risk section of the DSV annual report 2007 (1). DSV is an acronym meaning: the joint haulers.
"It all began in 1976 when Leif Tullberg and ten independent haulers established De Sammensluttede Vognmænd (DSV). The coterie operated as a cartage station for the owners and only handled contracting haulage and deliveries. In 2000 the biggest step in! the aggregation's history was taken by the acquisition of DFDS Dan Transport Group... Since 2004 we have pursued the plan to strengthen our position in the European grocery store. With the latest acquisition of Frans Maas in 2006, DSV goes from being a Scandinavian player to being a true Pan-European road transport and logistics player." (2)
The ambitions are higher than that, the ruck wants to become one of the largest and maximum profitable transport companies in Europe. The awarding of mergers cannot be seen separately externally the influence on organization: scale is one of the factors that determine the efficiency o fan organization.
Expansion is only credible by merging and acquisitions or by autonomous growth and in a consolidating sector, the last option is hard to achieve.
Interesting is the stock-quote feature on the spot of DSV. Some companies figure complete applications for the investor. In that case the clan has chosen to source the stock-q! uote feature by the Nordic stock index where the stock is trad! ed. It s hows that the assembly is focusing on what it does premium, and that is not making stock-quote applications. DIY is not quantum of that strategy. On the stock interrelation we including enroll that since May 2007 the stock has superannuated split by one-to-ten.
Now about the acquisition that toke spot in 2006. According to the annual report in 2007 - which is a protected pdf document - the party endure its effort to integrate the Frans Maas group. "that is a comprehensive and complicated process of commercial integration, realization of synergy prepatent and adjustment of legal and financial structures has now archaic completed in almost all countries, except for Germany and France..."
that process has evolved: "changes to truckage, termination of agency kinships, renegotiation of non-profitable agreements, combination of terminals and offices, consolidation of IT resources as well as staff adjustments." (AR 2007)
The circle's vocation is organized by three! separate divisions: Road, Air & Sea and Solutions. For that last, the group "disposes of 1,500,000 M2 of logistics facilities" (2)
The DSV's line concept is as postdates: "... implies comprehensive outsourcing. DSV aims to produce a maximum of 5% of the cush volume itself. The group uses haulers, airline companies and shipping companies as sub-contractors. As a denouement, DSV can quickly and cost-effectively adapt to changes in supply and demand in the transport shop. The cooperation with sub-contractors is principally tall-term and based on a atmosphere of mutual respect and requirements."
The stock quote chart in the annual report fanfare the new dilemma: increased growth and revenues (after the acquisition), but well-balanced with a higher risk: the quarterly results fluctuate more than before the mayor acquisitions (f.e. of Frans Maas).
About Frans Maas.
In an interview in 2001 (3) Henk Benjamins -- by that clock chairman of the Frans Maas group -- elaborated about the differences amid transport and logistics. "There is a lot more behind the vehicles that one sees on the road... behind unfolds a logistical thinking and coordination what is the core of their work. The chairman said that in a context of a changing dead ringer of the mob.
Although Frans Maas is of Dutch origin the outfit can only survive as a trans-European player. Another misconception is that Frans Maas is a carrying set. "Frans Maas is an expedition and logistical servicing body, which is something completely peculiar:
"A transporter has transport capacity and is pursualing for a cargo," we nearly have no trucks, only a fleet of trailers. In the year 2001 the aggregation had 175 locations with 80% of the turnover coming from outside the Netherlands. ... our logistical fitness catalog is that divers that we can attempt from foreign expedition ! to client dead on logistics."
that last employment ... comprises the organizing execution and reproduction of European flow of goods for ONE especial multinational client ... that may be the whole scale of commodities, expedience, assemblies and end-stock. These are generous projects that are centrally organized, which is hardly indeterminate otherwise.
all-embracing expedition is the gathering, switch and distribution of smaller cargo from various clients for even so bountiful destinations all closed Europe. that, too, is a centralized organization.
Besides a centralized logistical process there are plus decentralized logistics for "parish clients." Henk Benjamins explains in the interview that the pan-European role, the expedition network a key-driver is for the client nailed down logistics. "regularly a new office is born at the expedition canton. It all starts with doing something extra for one client which triggers other initiatives... At a positive m! oment the volume hatchs is on to approach it broader and than ! it becom es logistics.
In that client distinct logistics the logistical troupe changes from pure supplier to trade partner; it takes care of a member of the trust process of the outsourcing pack.
"that is covered by expanded-term contracts."
The pin money. "in march of 2006 a weak financial situation, cash flow doubts and too low margins on transport combined with a low volume offers a dialectics to dispose the horde." Although not all shareholders agree with that vision, M & A negotiations start.
By that life span, Henk Benjamin is retired (in 2005) and in 2006 the new CEO - Arvid Manneke a Pharmacists from origin - negotiates with the Danish horde DSV. Manneke received a position in the executive board of the new organization, but after a few month he resigns. According to the newspapers due to a conflict of interest with the CEO of DSV Kurt Larsen.
The crew DSV will be re-branded and the handle Frans Maas disappears. In the 2007 annual report there is no Dutch (top) manager left in the organization.
Kurt Larsen just now (the 16th of april) announced his resignation as CEO but will sojourn department of the supervisory board. Jens Bjorn ! Andersen becomes the new CEO.
(1) - http://www.dsv.com
(2) - Annual report 2007 on the aforementioned range
Hans Bool
© Hans Bool
business fundraising
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