DP World acquired 100% of US $ 1.2 billion, and this deal is subject to traditional terms and is expected to be completed in the second half of 2021 .


According to Arabic Net, the leadership of the United States of America specializes in the design and operation of supply chains for automotive and distinguished technology. The company will provide specialized solutions for storage and value added distribution through a variety of manufacturing and mobilization services Exports, transport management, switch services, reform and compliance conditions.


Cinerion has a global status across its 91 locations in 19 countries and serves a large and varied range of customers from multinational companies.


The group focuses on two major clients from customers are adult technology customers to enable e-commerce and overall channels and automotive companies to receive materials, storage, inventory management, export mobilization and packaging.


In fiscal year 2020, the group announced revenues of 1.1 billion US dollars, with 57 percent of them in Europe, the Middle East and Africa, most of which Europe and 42 percent in North America and has long-term partnerships with 18-year-old clients and high renewal rates.


Sultan Ahmed bin Sulayem, Chairman and Chief Executive Officer of the DP World, expressed his happiness to declare the acquisition of Sinerion, which would add a great strategy for the DP World, given its strong Logistics Solutions, allowing DP World to provide comprehensive solutions to the owners of goods. / p>


The capacity of Sinerion is attracted to providing vehicle solutions and advanced long-term strong relationships with goods owners, which suit the DP World's vision in providing technology-based smart supply chain solutions to enable trade through major markets.


It provides the huge area and rapidly growth in technology and automobiles in the medium-term medium-term growth opportunities. It aims to build on this platform to provide a broader business and provide an added supply chain solutions for merchandise with greater network. p>


The acquisition of the current available resources will be funded. The DP Global Group continues to pursue positive progress in capital recycling programs and continues its full commitment to achieving its long-standing target for four times the net debt / profits before the benefits, taxation and depreciation Consumption by the end of 2022.


Brian Anrate expressed the chief executive of Sinerion for their enthusiasm to join the DP Global Group.