Dubai-based DP World announced their acquisition of CFR Rinkens, a specialized automobile logistics service provider headquartered in Long Beach, California.
The purchase of CFR Rinkens represents a strategic move by DP World to enhance its capabilities in delivering precisely tailored solutions to its automotive clients, as the company says.
The specific terms of the deal have not been disclosed, and it remains subject to standard and customary approvals.
CFR Rinkens, with its specialized expertise, provides invaluable proficiency in containerized finished vehicles, semi-knock-down vehicle logistics, and innovative racking systems.
This additional depth of knowledge is set to fortify DP World’s position as a trusted partner for automotive clients, supporting them through the industry’s transition to electric vehicles and the global evolution towards sustainable energy solutions, it says in its statement.
As it is reported, “CFR Rinkens brings its wealth of experience in delivering tailored logistics solutions to the emerging energy storage and battery life cycle industries, so this acquisition of CFR Rinkens fortifies DP World’s ability to customise its offerings in accordance with the needs of its clients.”
DP World mentions that it is handling today over 10% of global automotive trade and collaborating with top manufacturers, having 16 Ro-Ro terminals, shipping over 30,000 cars in containers annually, and offering storage solutions for over 1 million cars, and these sites handle 2 million car equivalent units each year.
“We are thrilled to welcome CFR Rinkens into the DP World family as we continue to deliver our strategy to provide innovative end-to-end logistics services to our clients. Our combined capabilities will empower our automotive clients to navigate the challenges presented by the industry’s shift to electric vehicles and the emerging green energy revolution,” says Beat Simon, Global Chief Commercial Officer, Logistics at DP World.
“We look forward to joining forces with DP World and foresee substantial growth opportunities ahead through their extensive global terminal and logistics network. Our shared vision revolves around redefining customer experiences by streamlining operations and introducing innovative solutions. We are confident that integrating with DP World will empower us to expand into new markets and elevate our service offerings, ensuring unparalleled value for our clients,” says Christoph Seitz, CEO of CFR Rinkens.
