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Militzer & Münch: First Joint Venture in Libya - "With this joint venture, we are staying abreast of the progressive opening up of the Libyan market..."

Hof, Germany / Tripoli, Libya - May 10, 2010. Militzer & Münch is systematically expanding its international network: On May 1, 2010, M&M Militzer & Münch Deutsche Holding GmbH, Hof/Germany, signed a joint venture agreement with Tegerhy International Shipping Co., Tripoli/Libya. It is the first joint venture of this nature founded by a West European transportation and logistics company in Libya.

The joint venture operates under the name M&M Libya. Militzer & Münch holds 51 percent of the new company, Tegerhy owns 49 percent. Both partners in the joint venture have cooperated for some time already in the field of regular groupage road transports from Western Europe to Libya. Tegerhy acted as a Militzer & Münch delegate to Libya. The joint venture will, apart from executing road transports, develop the project business sector. Its product portfolio will also include air- and ocean freight from and to Libya. "With this joint venture, we are staying abreast of the progressive opening up of the Libyan market", says Peter Vogl, Director of the Board of Management Germany, M&M Internationale Spedition GmbH. "Here we are again doing pioneer work – as the axis Western Europe - Libya is not part of the classical race tracks' but needs developing. For the customers, the Libyan market will be of more and more interest in view of the country's growing economical integration."

With the foundation of M&M Libya, Militzer & Münch is simultaneously strengthening its strong presence and commitment in the Maghreb countries. Militzer & Münch has been active in the North African region for more than 30 years. In Tunisia as well as in Morocco, the Militzer & Münch country units count among the main players in today's transportation and logistics markets.

Tegerhy International Shipping, Militzer & Münch's Libyan partner, was founded in 2004. The company is head quartered in Tripoli and today operates branch offices at all Libyan ports. The product portfolio includes airfreight, ocean freight, forwarding services, and project business. "In this joint venture, we are combining the strengths of both sides", explains Vogl, and adds: "I am convinced we will succeed in opening up the Libyan market, a market with growing importance."

Brief information on M&M Militzer & Münch:

The Militzer & Münch Group employs a staff of circa 2500 at 120 locations in more than 30 countries. As a specialist for Eurasia and North Africa, Militzer & Münch offers international services such as overland road and rail transport, airfreight, ocean freight, as well as project logistics along the East West axis. Militzer & Münch operates a dense network of branch offices in Eastern Europe, the Commonwealth of Independent States, the Middle East, the Far East, and the Maghreb countries.

For more information contact:

M&M Libya
Ben Achour Street
P.O. Box 1502
Mr. Mohamed Douas, Managing Director
Mobile: +30 6944 289 610

Mr. Hedi Kantaoui, Road activities
Phone +218 21 363 14 21
Phone: +218 21 363 14 31
Fax +218 21 363 14 28
logistics@mm-libya.com

Mr. Friedrich Schupitta, Sales
Mobile: +49 172 818 0926

Submitted by: LogisticsWorld
news@logisticsworld.com, 6/7/2010 5:32:12 AM

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