Home News Ports and Terminals DP World to Acquire Majority Stake in South Korea's Unico Logistics Co....

DP World to Acquire Majority Stake in South Korea’s Unico Logistics Co. Ltd

DP World, the Dubai-based provider of worldwide smart end-to-end supply chain logistics, has agreed to acquire a 60 per cent shareholding in UNICO Logistics Co. Ltd.

The transaction, subject to regulatory clearances, is expected to close in Q4 2020 and represents another strategic step in DP World’s vision to build an integrated suite of service offerings that will connect directly with end-customers and beneficial cargo owners to remove inefficiencies in the supply chain and accelerate trade growth.

Established in 2002 by H.J. Park and headquartered in South Korea, UNICO has a global footprint of 25 subsidiaries in 20 countries and is one of the largest independent NVOCC (Non-Vessel Operating Common Carrier) in South Korea. UNICO is a multimodal transport specialist with a strong market position in the fast-growing transcontinental rail freight market between East-Asia and Central-Asia and Russia, in particular on the strategically important Trans-Siberian Railway (TSR) and Trans China Railway (TCR).

The acquisition is in line with DP World’s global strategy to grow as a smart supply chain solutions provider and will provide a platform to drive synergies between UNICO and DP World operations in the Asia Pacific and European regions, while also continuing the expansion of logistics capabilities within DP World’s portfolio. In addition, UNICO’s expertise in handling automotive logistics is aligned with DP World’s strategic focus on this sector.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “DP World’s vision is to become the leading end-to-end supply chain solutions provider. By integrating Unico into our worldwide network we will be able to offer better service to our customers in South Korea and beyond. These new services further strengthen our logistics capabilities, which we are combining with our maritime services operations and our worldwide network of ports and terminals.”

H.J. Park, President and CEO, UNICO Logistics Co. Ltd., said: “UNICO has delivered significant growth over the years and we are proud of our success but we believe this partnership with DP World will allow us to take the business to the next stage of its growth. Being part of DP World will allow us to develop further from the Group’s deep relationship with end-customers and wide global network. We look forward to a prosperous future together.”

Ryan Finn
Ryan is the Digital Marketing and Content Creation Manager for Trade and Logistics Siam Ltd. He provides a creative flair to the team and his resourcefulness helps to bring an imaginative improvement to both literary archetypes and online content production. A writer by day and a rider by night, when he's not composing the latest logistics news update or creating compelling copy for our clients, Ryan spends his free time travelling Thailand by motorbike.

Must Read

Maersk Expands in Ivory Coast

Maersk has announced a new storage, deconsolidation, and distribution multipurpose facility in Abidjan, Ivory Coast. Maersk says that this facility is strategically...

Hapag-Lloyd Unveils New Customer Dashboard

Hapag-Lloyd has unveiled its new “Customer Dashboard”. The carrier’s customers can now access performance information based on their business with Hapag-Lloyd.

Kalmar delivers Four Medium and Heavy Forklifts to support Yizheng Port

Kalmar ในเครือ Cargotec ได้รับคำสั่งซื้อรกยกจำนวน 4 คัน จากบริษัท Yizheng Port ซึ่งประกอบด้วยรถยก Kalmar Essential Forklift รองรับน้ำหนักสูงสุด 16 ตัน จำนวน 2 คัน และรถยก Kalmar Heavy Forklift รองรับน้ำหนักสูงสุด 25 ตัน อีกจำนวน 2 คัน

CNC launches Straits Thailand Belawan (STB) service connecting Thailand-Indonesia

CNC, the sole Intra-Asia shortsea carrier brand of the CMA CGM Group, a world leader in shipping and logistics, recently announced their...

Kuehne+Nagel Provides Dubai with Premium Avocados

Kuehne+Nagel has partnered with Colombian agricultural supplier Verdeex S.A. to deliver fresh Hass avocados to consumers in Dubai. These...