Hyundai Glovis, the logistics arm of Hyundai Motor Group, said Wednesday that it took over Adampol S.A., one of the leading finished vehicles logistics companies in Poland.

Adampol S.A., established in 1990, has been transporting 400,000 luxury brand vehicles such as BMW, GM and Toyota all across Europe for over two decades. It has shown a 15 percent annual growth since 2011, and last year, sales reached a record 100 million euros ($125 million) to rank at 10th place among finished vehicles logistics industry in Europe.

“The corporate value of Adampol S.A. is more than 70 million euro, which is the highest among foreign logistics companies that merged with local companies,” company officials said.

Hyundai Glovis, currently running logistics facilities in over 10 countries, plans to expand its business by making aggressive moves in the European logistics markets based on the acquisition of Adampol S.A.

(hjlee0301@heraldcorp.com)