By Sam Bridge
DP World says it has taken a stake of 44% in Swissterminal Holding with the Mayer family who founded the business
DP World and Swissterminal Holding, the container terminal operator in Switzerland, have announced a strategic partnership.
DP World said it has taken a stake of 44 percent in Swissterminal Holding with the Mayer family, who founded the business, remaining the majority shareholder.
The parties have agreed not to disclose financial details of the transaction, a statement said.
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.
The Swissterminal and DP World partnership is expected to deliver a strong competitive advantage and enhance the industry-leading position of both companies, the statement added.
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," added Roman Mayer, CEO Swissterminal.
"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.