DP World, Dubai-based global shipping terminal operator, has taken a stake of 44% in Swissterminal Holding AG, a leading container terminal operator in Switzerland.
DP World bought the shares from the Mayer family, who founded the business and remain the majority shareholder. The parties have agreed not to disclose financial details of the transaction.
Swissterminal, which is headquartered in Frenkendorf close to Basel, operates additional locations in Zurich-Niederglatt, Basel-Birsfelden, Basel-Kleinhueningen and Liestal. The terminals are well connected to Europe's leading container ports in Rotterdam and Antwerp as well as the ports of La Spezia, Genoa, Ravenna and Trieste south of the Alps.
DP World has grown from its roots in Jebel Ali Port in Dubai to be a leading global trade enabler offering end-to-end logistics to cargo owners through its network of 150 operations in more than 50 countries including ports, economic zones, warehousing, feeder services and inland transport.
Focusing on faster growing markets and key trade routes DP World is developing technology to remove inefficiencies in the supply chain. Through DP World Inland, the company is well established in the German and Belgian inland markets and operates four terminals including trimodal transport systems supporting trade flows to connect to the northern range seaports in Europe.
The Swissterminal and DP World partnership is expected to deliver a strong competitive advantage and enhance the industry-leading position of both companies. The cooperation is anticipated to expand the companies' terminal networks, increase efficiency and grow their service portfolios. With the transaction, no major structural changes within the respective companies are planned, and Roman Mayer will continue to serve as Swissterminal's CEO.
Dr Martin Neese, Managing Director of DP World Logistics, said: "We are excited to invest in an innovative container terminal operator with extensive industry know-how, committed employees and strong values. The strategic partnership with Swissterminal strengthens DP World's position as a leading provider of inland supply chain solutions. Swissterminal is a perfect match to our existing inland and seaport operations in Europe. We look forward to developing new intermodal solutions together for the benefit of our customers."
"We are delighted to welcome DP World as our partner, particularly at a time when we are seeing numerous opportunities for Switzerland to grow its success as a major global logistics hub," said Mayer.
"By merging our family-owned business with such a large, international organisation which shares our long-term vision, we will be well-equipped to deliver long-term sustainable growth and cater to a changing industry landscape," he added. - TradeArabia News Service