DP World invests in Swissterminal
Dubai (UAE)-based DP World has made a strategic investment in Switzerland to extend its network of 150 operations in more than 50 countries. With effect from 23 January 2020, DP World is taking a stake of 44% in Swissterminal Holding with the founder family Mayer remaining the majority shareholder. The parties did not disclose any financial details of the deal.
Swissterminal is headquartered in Frenkendorf, close to Basel, and operates from five locations in Switzerland. Its terminals are connected to ports and terminals in Northern Europe, amongst others by the rail operator Schweizer Zug also run by the Mayer family, and Southern Europe, e.g.to the ports of La Spezia, Genoa, Ravenna and Trieste in Italy south of the Alps.
In a press release, it was announced that Swissterminal's structure will stay the same and Roman Mayer will remain at the helmet as the company's CEO. Martin Neese, managing director of DP World Inland, commented: “We are looking forward to working together to develop new intermodal solutions the benefit of our customers.” (mw)