Expansion Ahlers' network /17 Nov 2003/

On November 14th 2003, the board of Ahlers Logistic & Maritime Services approved the creation of a subsidiary in the Netherlands. In Germany a strategic partnership has been initiated.

The Dutch subsidiary will operate under the name of LV Ahlers in cooperation with a local partner.

The joint venture partner in the Netherlands, LV Shipping, was founded in 1921. The company has 220 employees in Rotterdam, where the head office is, and throughout the United Kingdom.

In Germany Ahlers reached an agreement with BTG Internationale Spedition GmbH to create a strategic partnership. This company is located in Augsburg and counts eight offices in Germany. The agreement involves exclusive cooperation in the field of international forwarding.

The board of Ahlers LMS approved this partnership as part of the long term business plan, which aims at an active leverage of the Ahlers offices in Asia, Russia and the Baltic states in order to enhance customer service and to realise a rapid growth of the logistic activities of the group.

The choice for local partnerships in Europe also means that Ahlers will not pursue the option for a partnership on a corporate level.

Ahlers' turnover for the last six months (since April 2003) are up by 11 % and the result is above budget.