Wallenius Wilhelmsen Logistics (WWL) has entered into an agreement with partner company Groupe CAT to acquire its 50% shares in CAT-WWL, a joint venture network of ten vehicle processing facilities based in South Africa.
Established in 2006 as a joint venture by WWL and Groupe CAT, CAT-WWL South Africa operates ten processing facilities that provide finished vehicles services, storage management and technical solutions. The business employs more than 800 workers.
Kai Kraass, Chief Operating Officer at Wallenius Wilhelmsen Logistics, said, “This acquisition is strategically important to WWL”, adding, “As a leading global shipping and logistics provider, WWL will continue to expand its land-based operations to support vehicle manufacturers’ value chain and supply chain needs in the South Africa market and around the world.”
Completion of the transaction is subject to approval by competition authorities in South Africa.