dnata increases share in freight forwarding partners

Posted By Tony Sanchez / February 6, 2019 / Logistics Company / 0 Comments

February 6, 2019

dnata has strengthened its position in the UAE and international freight forwarding industry by increasing its ownership in two of its joint venture companies.

It has purchased a 50% stake in Dubai Express, Freightworks and a 25.5% stake in Bollore Logistics UAE from Kanoo Group.

As a result of the transaction, dnata is now the sole owner of Dubai Express, Freightworks and holds a majority stake of 51% in Bollore Logistics UAE.

The parties have not disclosed the details of the transaction, and the current leadership teams will continue to manage the business and operations.

Bernd Struck, senior vice president UAE cargo and DWC Airline Services for dnata, and chairman of Freightworks and Bollore Logistics says: “This strategic investment underlines dnata’ s commitment to the freight forwarding industry and its growing importance. We are driven to provide superior services to the regional market as well the worldwide network of Bolloré Transport & Logistics as their regional partner.”

Freightworks, operating under the licence of Dubai Express is an international multimodal freight forwarders, logistics and supply chain provider.

Services include customs compliance, project cargo planning, AOG/aircraft parts and ship spares as well as full service handling of events and exhibitions.

Bollore Logistics UAE, which will continue to operate as part of Bollore Transport and Logistics, offers multi-modal transportation, customs and compliance services, supply chain management and industrial projects.

Source: (Air Cargo Week)

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