Briefs

Briefs

Copyright 2004, Traffic World, Inc.

German company TUI AG (Hanover) is selling its bulk and logistics business unit, VTG-Lehnkering, as part of a re-structuring. TUI decided to have approximately a third of the shares of the Hapag-Lloyd AG shipping group, which it owns, officially traded. Since Hapag-Lloyd is to be quoted exclusively as a shipping company - comprising Hapag-Lloyd Container Line and Hapag-Lloyd Cruises - TUI will have to shed other businesses including the logistics unit. Also up for sale as a result of the move is the French company Algeco, which supplies container modules for use as temporary premises.

ProLogis, provider of distribution facilities and services, signed a build-to-suit lease agreement with French retailer Darty. The shipper will lease 467,110 square feet of distribution space at ProLogis Industrial Park Isle d''Abeau in Lyon, France. The transaction is one of the largest build-to-suit agreements in France over the last 12 months, according to ProLogis. Construction on the Darty facility will begin this spring and is expected to be completed in late fall. ProLogis owns and leases 12 facilities in the park, totaling more than 3,150,600 square feet.