Dubai’s DP World takes 44% stake in Swissterminal Holding
Cooperation between companies will expand their terminal networks, increase efficiency, and grow their service portfolios
Dubai-based global ports operator DP World has taken a 44% stake in Frenkendorf-headquartered Swissterminal Holding – a container terminal operator in Switzerland – effective from 20 January, 2020.
The Mayer family, who founded the business, remain the majority shareholder, according to state news agency, Wam. The parties have agreed not to disclose financial details of the transaction.
Swissterminal also operates in Zurich-Niederglatt, Basel-Birsfelden, Basel-Kleinhueningen, and Liestal. The terminals are connected to Europe’s leading container ports in Rotterdam and Antwerp, as well as the ports of La Spezia, Genoa, Ravenna, and Trieste in the south of the Alps.
Commenting on the strategic partnership, the managing director of DP World Logistics, Dr Martin Neese, said: “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."
The cooperation between the companies will expand their terminal networks, increase efficiency, and grow their service portfolios.
The partnership will not include any major structural changes within the respective companies, and Roman Mayer will continue to serve as Swissterminal’s chief executive officer.