K+N’s former Russian business to be renamed Noytech Supply Chain Solutions

Kuehne+Nagel’s (K+N) former Russian business will be run under the identify Noytech Provide Chain Answers soon after staying obtained as section of a management buyout.

Air Cargo Information sister title DVZ experiences that former K+N staff Perry Neumann has bought the business, which has 24 branches in Russia, Belarus, Azerbaijan and Kazakhstan.

The enterprise operates warehouses with a complete location of ​​89,000 sq m and employs a lot more than 1,000 former K+N staff members.

Neither KN nor Neumann furnished info on the invest in cost.

According to KN Team spokesman Dominique Nadelhofer, the share of profits from the Russian business offered was fewer than 2% of complete revenues.

Measured from the K+N annual net revenue for 2021, this was considerably less than all over €655m final calendar year.

KN signed an agreement on June 3 that presented for the transfer of business following the Swiss forwarding group quickly withdrew from the Russian marketplace at the commencing of March.

There are no other shareholders in addition to Neumann “at the moment”, the supervisor advised DVZ. At the starting of June, Neumann informed the DVZ that talks had been getting held with potential strategic associates.

Neumann explained to DVZ that, irrespective of the sanctions, “there are even now chances in European targeted traffic that we will use”. In response to a the latest query from DVZ, Neumann has now confirmed that Noytech is also lively in European site visitors.