CMA CGM to Buy Bollore Logistics Unit for $5.5 Billion
French shipping group CMA CGM has committed to buy the logistics operations of family-run conglomerate Bollore for an enterprise value of 5 billion euros ($5.5 billion), the two companies said on Monday.CMA CGM granted the Bollore group an option to sell it the logistics business, which generated more than 7 billion euros in revenue last year and employs 13,500 people.Bollore said it would decide whether or not to exercise the option after consulting employee representatives.The…
Konecranes Gets More W. African Orders
The manufacturer has received two orders for a total of nine gantry cranes from West Africa. The parties concerned have declined to reveal the value of the orders. The cranes will have some advanced technologies such as auto steering feature which keeps the crane on a pre-programmed, straight driving path as well as fuel saving technologies. According to Konecranes, the new technologies used help improving safety of operation and increase productivity. This contract is a result of a long term relationship.
OT Africa Line to be acquired by the Bollore Group
The Bollore Group has signed a contract with the aim of acquiring OT Africa Line, the British shipping line, and its landside network in Africa. The object of this move is to reinforce the Group's position in the Europe-Africa trade with the important contribution that OTAL can make, particularly in the traffic flows from the U.K., Germany and Benelux to the anglophone markets of Ghana and Nigeria. The OTAL organization will remain independent from Delmas, a Bollore Group liner shipping subsidiary, although potential economies in matters of common interest such ships and containers will be researched and evaluated. Moreover OTAL's management team will remain based in London.
