Thu 13-02-2020 15:09 PM
DUBAI, 13th February, 2020 (WAM) -- DP World has announced that it has agreed to acquire a majority 51 percent stake in the TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval.
Bringing the TIS Container Terminal into DP World's global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the leading terminal of Ukraine in the market.
According to a statement released by the company, this latest acquisition also complements the existing operations of DP World's P&O Maritime Services business through a joint venture with the TIS Group, providing tugging, pilotage and other marine services at several Ukrainian ports.
Commenting on the acquisition, Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, said, "We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal.
"Our goal is to build the industry's leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realise game-changing value and accelerate their cargo deployments. We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine."
The acquisition is in line with DP World's strategy to develop data-driven integrated logistics solutions for moving cargo from the point of manufacture to the final destination, deploying technology to remove inefficiencies in the supply chain, and focusing on fast-growing markets and key trade routes.
Leveraging its operational and commercial expertise, DP World employs international best practices to streamline terminal operations and focus on its customers, delivering robust and consistent standards of performance.
The Ukrainian container market grew over 20 percent in 2019, and the TIS Container Terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland.