Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Eviosys Unveils Cutting-Edge R&D Centre to Develop Sustainable Packaging Innovations Alongside Customers

    December 5, 2023

    Revolutionizing diabetes care with saliva tests replacing finger pricks

    December 5, 2023

    Economic uncertainty spurs unprecedented demand for gold.

    December 5, 2023
    Facebook X (Twitter) Instagram
    Angola ReportAngola Report
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Angola ReportAngola Report
    Home » US-based syncreon acquired by DP World for $1.2 billion
    Business

    US-based syncreon acquired by DP World for $1.2 billion

    July 4, 2021
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    DP World has announced the acquisition of 100 percent of syncreon for an enterprise value of US$1.2 billion. This transaction is subject to customary completion conditions and is expected to close in second half of 2021.
    US-based syncreon acquired by DP World for $1.2 billion

    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. syncreon provides specialized value-added warehousing and distribution solutions through a variety of manufacturing, export packaging, transportation management, reverse/repair and fulfillment services. syncreon has a global presence across 91 sites in 19 countries and services a large and diversified portfolio of customers made up of multinational companies.

    In FY2020, the group reported revenue of US$1.1 billion with 57 percent generated in EMEA (predominantly Europe) and 42 percent in North America. syncreon has longstanding partnerships with customers averaging 18 years, and high contracts renewal rates.
    Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said, “We are delighted to announce the acquisition of syncreon, which adds significant strategic value to DP World given its strong logistics solutions capability, and will allow DP World to deliver end-to-end solutions to cargo owners.”
    The acquisition will be funded from existing available resources. DP World continues to make positive progress on its capital recycling programs and remains fully committed to its leverage target of below 4.0x Net Debt/EBITDA by the end of 2022.
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Economic uncertainty spurs unprecedented demand for gold.

    December 5, 2023

    Innovative construction solutions unveiled at Dubai’s Big 5 Global

    December 5, 2023

    Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

    December 2, 2023

    Dow surges to 2023 peak, propelling November’s stock market rally

    December 1, 2023
    Latest News

    Revolutionizing diabetes care with saliva tests replacing finger pricks

    December 5, 2023

    Economic uncertainty spurs unprecedented demand for gold.

    December 5, 2023

    New York, L.A., and San Francisco among the world’s most expensive

    December 5, 2023

    Shaping tomorrow’s technology today with the top 11 companies leading the AI revolution

    December 5, 2023

    Start your day right with complex carbs to enhance weight loss and blood sugar control

    December 5, 2023

    Innovative construction solutions unveiled at Dubai’s Big 5 Global

    December 5, 2023

    UAE and Morocco forge new path with innovative partnership declaration

    December 5, 2023

    $9 billion boost from Global Fund for climate-impacted health systems

    December 5, 2023
    © 2023 Angola Report | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.