DP World subsidiary makes acquisition
A subsidiary of DP World has acquired a majority stake in a Singapore-based feeder and shortsea operator.
Unifeeder, acquired last August by DP World, has acquired a 77% stake in the Feedertech Group. The deal, which is expected to close in the first quarter of 2020, is the latest step in DP World's vision to build end-to-end logistics capability.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: "The acquisition of a stake in the Feedertech Group is another strategic step in our vision to build an end-to-end logistics capability and offer an integrated service suite that also engages end-customers and traders across the while optimising operations.”
He added: "Furthermore, it offers us exposure to the fast-growing coastal shortsea trade in the Indian Subcontinent, which is highly complementary to our existing India logistics strategy. The next and imminent stage of this development will be to launch a dedicated and efficient India-Gulf region service, which is an important route for our customers."
Feedertech operates two businesses; Feedertech, which is an independent feedering service, and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia to the Middle East via the Indian subcontinent.
Unifeeder is an integrated logistics company with the largest and best-connected feeder and growing shortsea network in Northern Europe. It has connectivity to approximately 100 ports.
LATEST PRESS RELEASES
A new milestone for Kuenz. Norfolk Southern Railway has ordered six Kuenz Freeriders – 11 Wide and 1... Read more
The Polish company Centrum Logistyczno Inwestycyjne Poznań II Sp. z o.o. is going to extend its inte... Read more
The company Linz Service GmbH will reconstruct its Terminal in Linz, in the East of Austria, and awa... Read more
TVH, global player in the field of forklift trucks and industrial vehicles and parts for these machi... Read more
Hinged fender panels for pier head at Sjællands Odde from ShibataFenderTeam Read more
Cone Fenders delivered for Malayan Flour Mills Jetty and Cruise Terminal in Phuket Read more