APL Logistics has taken an initial 51% of Mare Logistik, with the balance due to be transferred over the next five years. The purchase price was not being disclosed.

After their acquisition of GATX Logistics in the Americas; APL Logistics has had its sights on prospective European acquisition targets. The agreement with Mare delivers an initial retail logistics platform in the German market.

According Mr Dick Metzler, APL Logistics' CEO: 'We are delighted to have found a partner in Mare who shares our vision of IT-enabled, end-to-end supply chain management. The owners of Mare have developed a proven business model that can be replicated across other major European markets.'

Mare Logistik founder and managing director Mr Peter Maybohm said: 'Our priority has always been to secure the best future for Mare and our dedicated staff. We felt from the outset that APL Logistics was the right partner for us and that APL Logistics would enable us to achieve our ambitions of taking our concept forward on a broader scale.'

Mare employs 30 staff in Hamburg and Northern Germany and currently handles shipments entering the German market via all the main gateways, including German and Benelux ports as well as movements to/from Poland, Hungary and Russia. Over the coming months Mare will gradually change to trade as APL Logistics.

About APL Logistics

As a full-service logistics provider, APL Logistics is global in scope and offers services that span all aspects of a customer's logistics supply chain.

APL Logistics' focus is on improving the economic performance of its customers' supply chains through inventory awareness, distribution networking, decision support, process management and information technology.

As part of their services, APL Logistics can receive merchandise today from customers in any of its warehouses in 52 countries, consolidate it into containers destined for their distribution centres or retail stores, and manage the movement of these products from the beginning of their supply chain to the end, including documentation and information management.

APL Logistics offers barcode-scanning capabilities, whether on the factory floor or at cross-dock facilities. The company also arranges for the timely delivery of required documentation and provides customers with the information they need, electronically or online, to manage inventory.

APL Logistics is a wholly owned subsidiary of Singapore-based Neptune Orient Lines(NOL), a global company involved in transportation and logistics businesses.

About Mare Logistik & Spedition GmbH

Mare Logistik & Spedition GmbH (Mare) is a prominent freight forwarding and distribution specialist. As a warehousing and distribution center operator, Mare's headquarters and warehouse is located one kilometer outside of the Port of Hamburg, Germany. The company has annual gross revenues of approximately DM $140 million.

The company provides expert inbound customs brokerage, warehousing, deconsolidation, distribution and freight forwarding services to international customers with a proven business model in IT-enabled end-to-end supply chain management.

Mare offers a number of other services to its customers through two other affiliated companies operating under the Mare umbrella :

· Eurogate Distribution GmbH (Eurogate) is a separate warehousing and deconsolidation operation and performs deconsolidation, crossdock, and warehousing services. The Eurogate warehouse is more than 200,000 square feet with rail siding and container depots for several shipping companies.

· Jeschke Spedition GmbH is a parcel consolidator and forwarder that is part of the Cargo Line distribution network. Cargo Line is an association of 44 companies that form a hub and spoke operation with a shared consolidation center near Frankfurt. The Cargo Line network provides various local delivery options including overnight and next day time definite. Cargo Line makes extensive use of IT and the Internet. Real time track'n'trace is done from the point of pick-up to delivery.