CF&S Estonia is seeking another CEO to join its management and is planning to expand abroad.
"The company is growing so big that we need more people in our management", said Kuno Väin, member of the Management Board of CF&S, answering the question why the company is seeking a new CEO. "I am not going anywhere and I am not willing to step aside".
Väin did not give any details about the expansion plans but said that it was planned to change the structure of the company and expand to other countries.
"We need to develop our areas of activity on both sides of the Baltic Sea region", said Väin.
Currently, in addition to Estonia, CF&S is operating in Latvia and Russia. It is planned to expand during this year.
The company is doing well. The biggest as it is Estonian-capital based logistics and forwarding company increased its sales revenue last year by nearly 24 per cent to approximately 37 million EUR. According to Väin, the financial year ended was the most successful in the history of the company. "The unaudited consolidated sales revenue grew 23.9 per cent to 36.85 million EUR, and the operating profit of the company exceeded the 23.9 million EUR mark", said Väin.
In 2011 CF&S Estonia AS invested over 2.3 million EUR in different means of transport.
According to Kuno Väin, the company forecasts a moderate growth of cargo volumes this year.
The CF&S Estonia Group incorporated in 1997 provides broad-based logistics services, which, among other things, include road, sea, railway and air transport as well as warehouse services. The Group employs a total of 90 people in three countries.
CF&S Estonia, in its turn, is part of the Baltic Maritime Logistics Group, whose owners are Karin Nurmetalo, Ants Ratas and Andres Vahi. The companies of the Group, which are registered in eight countries, render sea, railway and road transport services, likewise stevedore and port services; other services include cargo forwarding and representation of shipping lines, ship charter and ship's agency.