Logistics operator Baltic Transline is planning to invest 4.5 million euros, received from Citadelė bank, into upgrading its vehicle fleet and purchase new trucks as well as semi-trailers.
“The logistics sector poses many challenges, which can be overcome only by companies that have a professional team, willing to adapt to the undefined conditions of the market and find ways to not only survive but develop their business as well. The funding received from the bank will be used to significantly upgrade our vehicle fleet and, at the same time, strengthen the connections we have with our partners,” – Mindaugas Veselis, the Baltic Transline CEO, explains.
Having more than 9300 clients, Baltic Transline, a once small transport and freight forwarding business, has grown into one of the largest logistics operators in Europe. Every year, the amount of its transported cargo increases by 25 percent on average. In 2019, the Company carried out 216 703 carriages.
“Even though many transport and logistics companies all around the world have met immense challenges in the face of the COVID-19 pandemic, it is evident that Lithuanian companies have proved – once again – their abilities to quickly and efficiently adapt to the crucial changes happening in supply chains and to ensure a continuous movement of goods. I believe that this transaction will assist Baltic Transline in finding even more new possibilities and consolidate their position in the market even further,” – says Vaidas Žagūnis, a member of the Management Board at Citadelė bank and the Head of Corporate Banking Service for the Baltics.
Established in 2000, Baltic Transline is a modern company, specializing in international cargo transportation and freight forwarding, which provides various complex road and sea logistical services. In the EU and CIS countries, there are 9 companies of the group operating: BTL Group, Baltic Transline, Baltic Transline Transport, Baltic Transline Rental, Ferry Bookings, Transline Europe, Transdepas and 2 other companies, founded in 2020 – Baltic Transline Sp.z o.o in Poland and Baltic Transline GmbH in Germany. In 2019, the Company’s income showed a 31 percent growth and the turnover reached 147.5 million euros.
The corporate group employs more than 1585 specialists. UAB Baltic Transline has state-of-the-art offices in Vilnius, Kaunas, Klaipėda and Kėdainiai.
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