Business is our main product!

We are responsible for giving you a place to invest and increase your capital!

  • Date of publication: 31 August 2020
  • 3002
  • businessbuysale.com
  • Shipping group Maersk to buy U.S. warehousing and distribution firm

    Synopsis

    Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more customized logistics solutions.

    • Share:
Description

Maersk said the value of the deal is $545 million, including lease liabilities of around $225 million.

 

The world’s largest container shipping firm aims to boost its earnings from its inland logistics operations, or non-ocean business. In 2018, the ocean transport business accounted for almost 80% of core earnings.

 

“This will strengthen our ability to deliver products and solutions that meet our customers’ end-to-end supply chain needs,” Vincent Clerc, chief executive of Ocean & Logistics at Maersk said in a statement.  

While Maersk moves around one in five containers shipped at sea, it handles land transportation from ports to warehouses and distribution centers for less than a quarter of its customers.