The state-owned company from Dubai is now also expanding into the German logistics sector through an acquisition on the stock exchange.
Dusseldorf The German logistics industry is increasingly coming under the influence of Arab companies. Above all, the port operator DP World from Dubai, one of the world’s largest logistics groups, is signaling ambitious plans. After the first takeover of the Duisburg goods supplier Imperial Logistics International, the group already has further acquisitions in mind and has won the first lucrative industrial contracts.
“Imperial’s European activities are part of our plan,” the newly appointed Imperial CEO and DP World board member Mohammed Akoojee told Handelsblatt. “They bring new opportunities to our business.”
That surprises many industry experts. The Duisburg company fell to the Arabs in February when they took over the parent company Imperial Holdings from South Africa. Because DP World said at the time that it primarily wanted to expand its African business with the deal, the low-yield Duisburg branch was considered more of a by-catch. Many in the industry predicted that the German company, which had sales of 1.5 billion euros a year in 2019, would be broken up quickly.
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