Germany: Fiege announces results growth in 2016, expands logistics operations

20.03.2017

Germany: Fiege announces results growth in 2016, expands logistics operations
Frankfurter Allgemeine Zeitung, 20 Mar 2017, online:-
German logistics company Fiege announced that its turnover grew to almost EUR 1.50bn (USD 1.61bn) in 2016. The return in relation to the operating results amounted to 3.4%. Fiege has also won a new contract to operate a new logistics centre that is being built by German online retailer Zalando in Poland. This logistics centre will be used to deliver goods to 16 European markets. Fiege has been a major logistics partner with Zalando for many years. In addition, the company is to build a new logistics centre in Burgwedel, Germany. The logistics centre is to be used to distribute goods for the clothing industry and for the online trade. Fiege will also implement digital solutions at its site in Ibbenbüren, where it will use robots in the handling process. For 2017, Fiege expects an increase in turnover of around 20% from e-commerce, with cross-border online trade expected to be a major factor. This includes trade between Europe and China. However, the company noted its difficulty in finding new employees for its operations in Germany.
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