The Brink's Company has finally found a buyer for its
BAX Global third-party logistics (3PL) unit. German-based
Deutsche Bahn, Europe's largest railway, has purchased BAX for approximately $1.1 billion in cash. BAX will serve as a complement to Deutsche Bahn's logistics subsidiary
Schenker, and will allow Deutsche Bahn to expand its position as an international logistics services provider in the key growth markets in the Asia/Pacific region, as well as the U.S.
In the first three quarters of 2005, BAX generated revenues of $2 billion, with over 12,000 employees. Worldwide, BAX maintains more than 500 offices in over 130 countries.
