Cma CGM acquired the logistics division of Borusan in Turkey for 440 million US dollars
Recently, CEVA Corporate Services, a subsidiary of the French shipping giant CMA CGM Group, has signed an agreement. It is proposed to acquire Borusan Tedarik Zinciri Cozumleri ve Teknoloji (stock code: BRYAT.IS), the logistics division of the Turkish conglomerate Borusan, for 440 million US dollars.
Borusan Tedarik currently operates the largest port in Gemlik, a major manufacturing hub in Turkey, with an annual handling capacity of 1,500 vessels and approximately 400,000 TEUs.
Cma CGM is the world's third-largest container shipping company. CEVA, a subsidiary of the company, relies on over 1,500 terminals in more than 170 countries and approximately 110,000 employees to provide one-stop comprehensive logistics services ranging from contract logistics to air, sea, land and full truckload transportation.
CEVA stated that this acquisition of Borusan Tedarik will nearly double its warehousing and distribution capabilities in Turkey, adding approximately 570,000 square meters of warehousing area on top of the original 620,000 square meters.
At the same time, this transaction will also significantly enhance its domestic land transportation business in Turkey. It is expected that the annual domestic transportation volume after integration will approach one million tickets. CEVA also pointed out that Borusan Tedarik's network resources will further consolidate its connection with the European market.
Furthermore, Borusan Tedarik's deep customer base in the automotive industry will help CEVA rank among the top three in the local vehicle logistics (FVL) business. After the acquisition is completed, CEVA's sea cargo volume is expected to increase by 25%, and its air cargo business scale will also rank among the top five in Turkey.
Borusan Tedarik currently operates the largest port in Gemlik, a major manufacturing hub in Turkey, with an annual handling capacity of 1,500 vessels and approximately 400,000 TEUs.
Cma CGM is the world's third-largest container shipping company. CEVA, a subsidiary of the company, relies on over 1,500 terminals in more than 170 countries and approximately 110,000 employees to provide one-stop comprehensive logistics services ranging from contract logistics to air, sea, land and full truckload transportation.
CEVA stated that this acquisition of Borusan Tedarik will nearly double its warehousing and distribution capabilities in Turkey, adding approximately 570,000 square meters of warehousing area on top of the original 620,000 square meters.
At the same time, this transaction will also significantly enhance its domestic land transportation business in Turkey. It is expected that the annual domestic transportation volume after integration will approach one million tickets. CEVA also pointed out that Borusan Tedarik's network resources will further consolidate its connection with the European market.
Furthermore, Borusan Tedarik's deep customer base in the automotive industry will help CEVA rank among the top three in the local vehicle logistics (FVL) business. After the acquisition is completed, CEVA's sea cargo volume is expected to increase by 25%, and its air cargo business scale will also rank among the top five in Turkey.
