March 09 - Subject to the approval of relevant authorities, Kuehne + Nagel has agreed to take over J. Martens Holding AS, headquartered in Bergen, Norway, a leading service provider in the oil and gas industry.

Besides providing transportation and logistics services for the past 125 years in Norway, J. Martens has set up operations in other key markets such as Singapore, Great Britain and the Netherlands.

With its 260 employees, the company achieved a turnover of NOK1.3 billion (USD141 million) in 2008.

"The acquisition of J. Martens significantly strengthens our capabilities and position not only in Norway but also in the international oil and gas logistics market," comments Peter Ulber, executive vice president Sea & Air Logistics of Kuehne + Nagel International AG. "It ideally fits our strategy to globally expand those services for our customers, which require a high level of industry-specific know how and experience."

"I am very pleased with the opportunities opening up to both J. Martens and our customers through joining forces with the globally operating Kuehne + Nagel Group," says Didrik Trumpy Martens, CEO of J. Martens, who will join the corporate Kuehne + Nagel Oil & Gas management in future. "Our strong market position in Norway as well as our innovative industry solutions will support Kuehne + Nagel's ambitious expansion plans."

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