European logistics group DSV has strengthened its air and sea freight presence in Africa after completing the purchase of DSV Swift.
In October 2012, DSV of Denmark bought Dubai's Swift Freight, with annual revenues of US$70 million, taking full ownership of Swift’s subsidiaries in the UAE, China and India.
Copenhagen-listed DSV bought an initial 33% stake in Swift's African companies, but has now acquired the remaining shares. The purchase price is not being disclosed.
"For the past nearly two years DSV has gained a lot of experience in the African transport market. So far we like what we see, and that is why we take this step to increase our focus and commitment in Africa even more", says Jens Bjorn Andersen, DSV Group chief executive.
DSV, which has made a number of niche acquisitions in the last three years, has an African network that covers South Africa, Mozambique, Zambia, D.R. Congo, Tanzania, Rwanda, Burundi, Uganda, Kenya, Ethiopia, Nigeria, Ghana, Togo, Morocco and Egypt.
Regional volume data is not available but DSV’s global air freight volumes are currently 250,000 tonnes per year.
