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| SCHIPHOL GROUP AND THE NUANCE GROUP SIGN A MEMORANDUM OF UNDERSTANDING FOR A JOINT VENTURE AT AMSTERDAM AIRPORT SCHIPHOL |
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| Amsterdam and Zurich, May 7, 2007 – N.V. Luchthaven Schiphol (Schiphol Group) and The Nuance Group A.G. today announced the signing of a Memorandum of Understanding (MoU) regarding the creation of a joint venture to operate retail outlets at Amsterdam Airport Schiphol (AAS) with the liquor, tobacco and confectionery categories. The joint venture is expected to become effective as of August 1, 2007. |
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Schiphol Group currently operates the liquor & tobacco activities at Amsterdam Airport Schiphol through its 100% subsidiary Schiphol Airport Retail B.V. Nuance currently operates the confectionery concession at Amsterdam Airport Schiphol through its 100% subsidiary The Nuance Group (Netherlands) B.V.
Under the terms of the Memorandum of Understanding, Schiphol Group and The Nuance Group will participate on an equal basis in Schiphol Airport Retail B.V. Nuance will acquire a 50% stake in Schiphol Airport Retail B.V. and all of the assets of The Nuance Group (Netherlands) B.V. will be transferred to Schiphol Airport Retail B.V.
Dick Flink, Senior Vice President, Business Area Consumers, stated: “The forming of a joint venture with The Nuance Group is in line with the strategy of Schiphol Group's Consumers Business Area to further reinforce non-aviation revenue. After an already very successful start to Schiphol Airport Retail, I look forward to further increase the results through this joint venture with Nuance.”
Roberto Graziani, President & CEO, The Nuance Group, added: “We are absolutely delighted to have been chosen as a joint venture partner for retail activities at Amsterdam Airport Schiphol. This agreement shows that a real partnership between airport and retailer isn’t only a dream. We are really proud that this partnership has become reality at an airport as important as Schiphol. We look forward to contributing our international know-how and Dutch expertise regarding airport retailing to maximize customer satisfaction at Schiphol Airport.”
Schiphol Group - Schiphol Group is an airport operator. The company's aim is to create sustainable value for its stakeholders by developing AirportCities and by positioning Amsterdam Airport Schiphol as the leading AirportCity. The company's ambition is to rank among the world's leading airport companies.
Amsterdam Airport Schiphol welcomed 46.1 million passengers and handled over 1,526,000 tonnes of cargo in 2006, ranking as Europe's fourth-largest passenger and third-largest cargo airport. The airport thus ranks as one of Europe’s four major hubs and one of the two principal home bases to Air France-KLM and the SkyTeam alliance. Amsterdam Airport Schiphol is a major driver of the regional Dutch economy generating on-airport jobs for 61,000 people at the end of October 2006.
The Nuance Group – Swiss-based The Nuance Group is the global market leader in the travel retail industry, operating 340 shops across 56 airports and 16 countries around the globe and employing 4500 staff. In addition to its duty- and tax-free operation, the Nuance portfolio comprises specialist shops as well as food & beverage operations, distribution, inflight services and shops in other travel retail channels.
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