DP World increases its automotive presence with the acquisition of CFR Rinkens

DP World, a global leader in supply chain solutions, has strengthened its commitment to the global automotive industry with the acquisition of CFR Rinkens, a specialized logistics services provider based in Long Beach, California.

The acquisition of CFR Tracks represents a strategic move to enhance its capabilities in delivering precisely customized solutions to its automotive customers. DP World already transports one in ten new cars worldwide and this acquisition adds new dimensions to the company’s comprehensive suite of services.

CFR tracks, With its specialized experience, it provides invaluable competence in containerized finished vehicles, semi-knocked down vehicle logistics and innovative racking systems. This additional depth of knowledge is intended to strengthen DP WorldPosition as a trusted partner to automotive customers, supporting them during the industry’s transition to electric vehicles and the global evolution towards sustainable energy solutions.

And what is more, CFR Tracks brings extensive experience in delivering customized logistics solutions to the emerging energy storage and battery life cycle industries. The acquisition strengthens DP World’s ability to customize its offerings to meet the changing needs of its customers.

Beat Simon, Global Commercial Director of Logistics at DP World, saying:

“We are delighted to welcome CFR Rinkens to the DP World family as we continue to implement our strategy to provide innovative end-to-end logistics services to our customers. Our combined capabilities will enable our automotive customers to navigate the challenges presented by industry change. towards electric vehicles and the emerging green energy revolution.

Christoph Seitz, CEO of CFR Rinkensshared his excitement about the acquisition and said:

“We look forward to joining forces with DP World and foresee significant growth opportunities in the future through their extensive global terminal and logistics network. Our shared vision revolves around redefining customer experiences by streamlining operations and introducing of innovative solutions. We are confident that the integration with DP World will allow us to expand into new markets and elevate our service offering, ensuring unparalleled value for our clients.”

With advanced technology and an extensive global logistics network, DP World is transforming the automotive industry. Handling more than 10% of global automobile trade and partnering with leading manufacturers, DP World leverages its interconnected network of ports, ocean vessels, warehouses and roll-on freight forwarders to efficiently transport finished vehicles. to global markets.

With 16 Ro-Ro terminals, shipping over 30,000 containerized cars annually and offering storage solutions for over 1 million cars, DP World’s strategic sites handle 2 million car-equivalent units each year, while providing value-added services for dealer-ready vehicles. .

Financial advisory services for CFR Tracks in this transaction are provided by Cascadia, while Rutan & Tucker acts as legal advisor. Specific terms of the deal have not been disclosed and the deal remains subject to standard and customary approvals.

News source: Dubai Press Office