- 20 January 2020
- Transport / Logistics Services
European pallet networks Palletways Deutschland and Vernetzte Transport Logistik (VTL) have said they have cancelled plans for a merger of the two companies.
Palletways Deutschland MD Abraham Garcia Martinez said: “We were forced to recognise that we were unable to reconcile the interests of both sides in some major detailed issues.”
Hakan Bicil, international division chief executive at Palletways parent company Imperial Logistics, said: “We’ve not succeeded in reaching agreement about the underlying conditions for a new, common network structure”.
The two companies announced plans for the merger last June. The plan was to create smaller delivery regions.
Under the deal Palletways was to take a 20% minority holding in VTL, with options to increase this to a majority holding in the medium term.