Wallenius Wilhelmsen Logistics (WWL) is buying 50% of the shares in CAT-WWL, a joint venture network of ten vehicle-processing facilities in South Africa that WWL originally set up with Groupe CAT in 2006.
After acquiring the shares and taking full ownership, WWL will become one of the top independent providers of vehicle processing services to support automotive manufacturers in South Africa.
The ten processing facilities currently operated by CAT-WWL provide finished vehicle services, storage management and technical solutions. It employs more than 800 people.
Kai Kraass, chief operating officer at WWL said, “This acquisition is strategically important to WWL. 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.
Last year, WWL serviced more than 6.3m cars and pieces of high and heavy equipment at its 62 processing facilities around the globe.