BAX Global, a $2.4 billion global supply chain and transportation unit of The Brink’s Company may have found a match with Deutsche Bahn, the Germany railway. Press reports from Germany indicated Deutsche Bahn would mount a bid for BAX. One report set the price between €800 million and €1 billion.
BAX reported significantly improved third-quarter revenues or $738 million, up 20% over the prior-year period. A 4% improvement in U.S. shipping volumes (including increased export activity and higher fuel surcharges) contributed to an 11% increase in revenues in the Americas region. International revenues rose 27% on continued strong Asia-Pacific activity.
It is the U.S.-Asia lanes that are of particular interest to Deutsche Bahn. They provide a good complement to the company’s Schenker freight forwarding unit.
Other U.S.-based freight forwarders posted strong third-quarter results. Expeditors International reported record revenues of $1.06 billion and operating income of $85.8 million in the third quarter.