Astra Logistics Gent: re-arrangement activities /23 May 2001/

Further expansion of logistical activities in Flanders.

Astra Logistics N.V., headquartered in Ghent sold its "forest products distribution" activity and related "port agency" activity to the company Stukwerkers Havenbedrijf N.V. Both activities were executed under the trade name "De Baerdemaecker". Since many years already Astra Logistics N.V./De Baerdemaecker and Stukwerkers Havenbedrijf N.V. cooperated in the field of stevedore-activities in the port of Ghent.

Stukwerkers Havenbedrijf N.V. not only took over the activities but also acquired the rights of the name "De Baerdemaecker".

Astra Logistics N.V. will further expand its logistic activities in Flanders with a strong focus on the Ghent area. The already existing logistical capacity will be extended. A new "European logistical distribution center" will be built adjacent to the existing warehouses at the Wiedauwkaai in Ghent: an investment of approximately Bef 350 million; creating extra employment.

This investment clearly underlines Astra Logistic's trust in the Ghent area as a logistical center, not only for companies in Flanders but also for overseas companies wishing to establish a European distribution center.

Construction works will commence as soon as the necessary permits of the authorities have been received.

For more information:
Mr Alfons De Jonghe, General Manager, direct tel +32 35437719, or adj(at)astralogistics.be

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