DP World acquires logistics firm Syncreon
Dubai-headquartered DP World expands again.
DP World has moved a little closer to dominating the filed of logistics by buying 100% of the US firm Syncreon for $1.2bn.
The American logistics firm specialises in the design and operation of complex supply chains for the technology and automotive industries.
“We are delighted to announce the acquisition of Syncreon, which adds significant strategic value to DP World given its strong logistics solutions capability, and will allow DP World to deliver end-to-end solutions to cargo owners,” said Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO.
DP World currently handles 10 % of the world’s container traffic and operates over 80 ports, as well as marine and inland terminals in more than 40 countries. It logged a $879m profit in 2020.
