DSV kicks off in-depth UTI integration process

With Friday's large-scale acquisition, the work to merge Danish DSV and US-based UTI can now begin. A process which will take two-three years, says CEO Jens Bjørn Andersen, who will not rule out layoffs.

After several years of talks about performing acquisitions, the Danish transport and logistics company DSV finally completed a transaction when the company completed the takeover of US-based competitor UTI Worldwide on Friday. CEO Jens Bjørn Andersen has thus lived up to the strategy of taking part in the consolidation in the industry, which he describes as fragmented, and he also lives up to the expectations from the company's shareholders and investors. In other words, it was very important that DSV succeeded with the deal, which was signed with UTI back in October of 2015.

"There is always a somewhat inopportune period in relation to every transaction because some uncertainty can arise etc. So we wanted this period - from when we went public with the deal until it was completed - to be as short as possible. We hoped to close the deal in the first quarter, and we are pleased that it happened in the first half of the first quarter, because we are so excited to get started melting the two companies together. So it has been really important to us, we come very well prepared, and we have a good plan for what will happen now," Jens Bjørn Andersen tells ShippingWatch.

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