Unifeeder has acquired a 77% stake in Singapore-headquarterd Feedertech, while chairman, Ali Maghami, will retain the remaining 23% shareholding.
With the acquisition of the majority stake in the Singapore company Unifeeder will now have feeder and shortsea coverage in Europe, the Mediterranean, North Africa, Asia, the Middle East, and the Indian Subcontinent.
Feedertech operates the feeder brand Feedertech and shortsea brand Perma with revenues of close to $200m annual volumes of over 600,000 teu
‘‘This is yet another strategic step in our vision to build a global presence, offer a broader network of solutions to customers and leverage the way we engage with them to create the most comprehensive and integrated solutions across multiple geographies,” said Jesper Kristensen, ceo of Unifeeder.
“Feedertech’s asset-light business model and approach to preserve the common-user independent platform that focuses on flexibility, reliability and providing sustainable logistics solutions, made it a clear fit for Unifeeder.”
Feedertech chairman Ali Maghami said: “We believe the transaction with Unifeeder, and the support of DP World, will allow us to take the business to the next stage of its growth. Both Feedertech and Unifeeder share similar business models and a desire to reduce inefficiencies, and by combining the expertise of the two entities, we believe we can deliver a high-quality product for our customers.”
Copyright © 2020. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.