Port strategy | Acquisition of DP Monde
DP World has acquired a US-based supply chain solutions provider.
100% of syncreon was acquired by DP World for US $ 1.2 billion. Global logistics provider syncreon specializes in the design and operation of complex supply chains for the automotive and technology industries. It provides warehousing and distribution solutions through a variety of manufacturing, export packaging, transportation management, return / repair and fulfillment services.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: End-to-end solutions for freight owners.
“Syncreon’s complex solutions capability brings strong, long-term relationships with freight owners, which aligns with DP Worlds’ vision to provide intelligent and technological supply chain solutions to enable commerce in key markets.” . Syncreon’s exposure to large and rapidly growing technology and automotive industries offers significant growth opportunities in the medium to long term. We aim to build on this platform to offer greater scale and provide compelling value-added supply chain solutions to merchandise owners in a larger market. “
syncreon has a global presence with 91 locations in 19 countries. The group focuses on two key segments. First, large technology customers to enable e-commerce and omnichannel fulfillment and aftermarket services, and second, automotive companies for receiving materials, warehousing, inventory management, kitting / sequencing for in-line feeding and packaging for export. This is complemented by a growing presence serving customers in the consumer goods, healthcare and industrial markets.
In fiscal 2020, the group achieved sales of $ 1.1 billion, of which 57% were generated in EMEA (mainly in Europe) and 42% in North America.