Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

since, although Italy is Europe’s fourth-largest
logistics market, the country has a very low rate
of distribution outsourcing. Within this context,
Altadis should be able to apply its general logistics
development model, as it has done successfully in
other markets.
An acquisition by Logista
Altadis’ subsidiary Logista, the Group’s publicly-traded
logistics operator for Spain and Portugal, acquired
96% of the share capital of Etinera from British American
Tobacco. The EUR 566.4 million transaction was financed
by available cash and existing lines of credit.
Combining independence, transparency and neutrality in
tobacco logistics, Logista has demonstrated its capacity
as an efficient operator offering a full range of logistics
services. In addition, the company has expanded its
logistics business to include new, high-value-added
services. It was therefore logical for Logista to be
involved in an acquisition that was so closely related
to its own field of activity. Today, taking the name of its
principal shareholder, Etinera has become Logista Italia.
France:
diversifi cation into promotional logistics
Logista also expanded in France, through its acquisition
of the leading promotional logistics operator, Geopost
Logistics Holding, for EUR 12.8 million. Geopost
Logistics Holding, renamed Logista France, distributes
Logista France key figures
• 700 employees
• EUR 66,6 million in economic sales
• 5.7 million orders handled annually
• 48,000 metric tons of products
distributed
• 115,000 square meters of storage
capacity
promotional and advertising materials as well as
items for outlets in retailing networks. The company
has a large customer base in a broad range of sectors,
including the petroleum industry, airlines, automobile
manufacturers and mobile phone operators.
The acquisition has strengthened Logista in a fi eld
in which it has been operating for 15 years in Spain,
where it has registered average growth of 30% a year.
The Etinera and Geopost acquisitions are seamlessly in
line with Group strategy, enabling Altadis to reinforce its
logistics leadership position in the Mediterranean region
and to pursue the diversifi cation of its activities. The Group
now supplies a total of 221,000 sales points, with a
storage capacity of close to 1,000,000 square meters
and a chartered fl eet of 4,000 trucks.
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