DP World Successfully Completes Acquisition Of Cargo Services Far East

DP World has finalised the acquisition of Cargo Services Far East Ltd, a global supply chain provider based in Hong Kong. The integration process will unfold over the next few months, ensuring operational continuity and customer satisfaction. This merger brings together resources from both companies to facilitate a seamless transition.

With this acquisition, DP World now employs over 115,000 people across more than 800 locations worldwide. By year-end, the company aims to operate over 200 freight forwarding offices, covering up to 95% of global trade flows. This expansion underscores DP World's commitment to enhancing its global footprint.

Cargo Services was established in 1989 and was among the first foreign logistics providers to enter the China market. Over the years, it has developed a comprehensive portfolio of solutions including origin purchase order management, ocean freight, air freight, and warehousing. These services cater to various sectors such as retail and high-fashion in regions like the US, UK, Europe, South Africa, Australia, and New Zealand.

Industries like automotive, chemicals, healthcare, perishables, retail, and technology demand customised logistics solutions. DP World is strategically focused on developing specialised offerings that address each sector's unique challenges and opportunities. The aim is to deliver comprehensive solutions that enhance efficiency and foster growth.

Sultan Ahmed bin Sulayem, Group Chairman & CEO of DP World, stated: "Cargo Services' logistics expertise and global network perfectly complement our own footprint and will be yet another tool in our offering to customers. Together, we'll create a powerful force propelling trade globally."

Comprehensive Service Portfolio

Cargo Services employs over 2,500 people across Greater China and other regions including Asia, Europe, South Africa, and the US. The company is a leader in origin services—moving goods from factories directly to customers' doors. It has also expanded its portfolio to include specialised cruise logistics services worldwide.

The combined team from DP World and Cargo Services will focus on integrating their operations smoothly while prioritising customer needs. This collaboration aims to leverage their collective strengths for enhanced service delivery.

This significant milestone marks an important step for DP World in its mission to provide innovative supply chain solutions globally. The acquisition of Cargo Services Far East Ltd aligns with DP World's strategic goals of expanding its service offerings and strengthening its position in the global logistics market.

With inputs from WAM