DP World recently announced the acquisition of 100 per cent of syncreon for an enterprise value of US$ 1.2bn. This transaction is subject to customary completion conditions and is expected to close in H2-2021.
syncreon is a US based global logistics provider that specializes in the design and operation of complex supply chains for the high growth automotive and technology industries.
The group focuses on two key segments. Firstly, large technology customers to enable e-commerce and omni-channel fulfillment and aftermarket services, and secondly automotive companies for reception of materials, warehousing, inventory management, kitting/sequencing for line feeding, and export packaging.
“We aim to build on this platform to deliver greater scale and provide compelling value add supply chain solutions to cargo owners across a wider market,” affirmed Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World. “While we have enjoyed great success over the years, we believe being part of DP World will enable us to take the business to other markets,” commented Brian Enright, CEO, syncreon