Nortel to sell global logistics unit

Nortel Networks announced this week that it is selling its global outbound logistics operations management business to Germany’s Kuehne & Nagel. The vendor has been selling non-strategic assets over the past year to combat reduced revenues, blamed on the economic downturn.

Terms of the deal were not disclosed, but as part of the deal about 95 Nortel employees, based in 18 countries, are expected to join Kuehne & Nagel to help Nortel plan and execute its logistics requirements, which include supply chain needs that include import and export processes, inventory management, warehousing and distribution, and transportation management. The two companies have been working together for more than seven years.--Amalia D. Parthenios