Lufthansa’s time:matters buys German customs brokerage

Time-critical logistics firm time:matters has purchased Germany-based CB Customs Broker GmbH and Customs Broker Cargo Handling GmbH yesterday in a move to help speed up cross-border transactions.

For now, both customs brokerages and time:matters will continue to operate as neutral partners, a company release said, offering services such as customs clearance and air cargo handling, to forwarders and carriers companies.

The purchase enables time:matters to “incorporate decades of customs clearance and cargo handling expertise” into its services. “We will be able to respond even more flexibly to customer requests,” said Alexander Kohnen, Managing Director of time:matters Holding GmbH.

Stelios Ntounakis, founder and managing director of both Customs Broker companies, will remain in his title and will help manage the businesses, together with time:matters, which is owned by Lufthansa Cargo. “[We] will continue to go from strength to strength under the time:matters umbrella,” he added.

Before the purchase, Customs Broker and time:matters have cooperated together at Frankfurt Airport since 2006.