DP World Strengthens European Presence with Swissterminal Stake Purchase
- Business & Finance
Dubai-based port and terminal operator DP World and Switzerland’s container terminal operator Swissterminal Holding AG have entered into a strategic partnership.
With effect from January 23, 2020, DP World will take a stake of 44% in Swissterminal Holding AG with the Mayer family — that founded the business — remaining the majority shareholder.
Financial details of the transaction have not been disclosed.
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, according to the duo.
“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,” Martin Neese, Managing Director of DP World Inland, commented.
“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,” Roman Mayer, CEO Swissterminal AG, said.
“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.”
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 a network of 150 operations in more than 45 countries including ports, economic zones, warehousing, feeder services and inland transport.