Barloworld acquires Swift
12 / 03 / 2008
BARLOWORLD Logistics has acquired Dubai-based Swift Group in the Far East, India, UAE, Africa and Germany.
The acquisitions will catapult Barloworld Logistics into the global logistics arena, especially with regard to multimodal transport solutions, with several niche services and logistics activities between South East Asia, the Indian sub-continent, Europe and Africa.
The acquisition will include the marketing operations of one of Swift’s business partners in Germany, which has been responsible for the commercialisation of sea-air combined transport (a multimodal transport solution), operating from the Far East and the Indian sub-continent via the UAE to various destinations in Europe.
Barloworld Logistics, chief executive officer, Paul Stuiver, said: “The skills, networks and clients of Swift and its affiliates will enable Barloworld Logistics to provide niche, multimodal solutions in the global logistics arena. By expanding our freight management services through their networks, we will become a significant player in a supply chain network that stretches from Asian manufacturing to Western European and African consumers. In addition, the acquisition will consolidate our existing presence in Dubai, which is already an important global logistics and transhipment hub. Most of the existing multimodal market originating from South East Asia, is transhipped through the UAE.”
Swift Group’s chairman and founder, Issa Baluch, said: “It is a milestone for Swift – the staff, management and stakeholders – to be recognised as an organisation with a sound strategy and potential to grow even further as an integral part of the Barloworld Group. I am extremely happy and excited for this organisation and I believe we have a bright future ahead in pursuit of our corporate goal to serve the world from Dubai.”