HOYER Group, the Germany-based transport and logistics service provider, is increasing the amount of its investment budget from €90m in 2018 to a record €173m for 2019.
The international logistics company aims to place emphasis on further development of the successful digitalisation initiative and equip tank containers with telematics systems and intelligent networked software.
“We have identified promising investment projects in all business areas for HOYER. This has resulted in a comprehensive investment package spread across the business development, property, plant and equipment, acquisitions and replacement investments business areas,” said Gerd Peters, Chief Financial Officer (CFO) of the HOYER Group.
“The sustained positive business development enables this financial tour de force.”
HOYER will continue to invest a considerable volume in property, plant and equipment. Roughly one third of financial resources will be used to modernise and enlarge the tank container fleet for intermodal business and overseas activities.
The number of tank containers and IBCs (Intermediate Bulk Containers) for the rental business is also being significantly increased.
The HOYER Group allocates its investments primarily in business areas with attractive future prospects. The increasing volume of orders reinforces the company to further expand the Supply Chain Solutions (SCS) business line internationally.
The logistics company has budgeted a double-digit millions amount for possible acquisition projects such a company purchases and joint ventures. The extensive investment plan will be completed by annual replacement investments.