CMA CGM to acquire 48% stake in Santos Brasil
NewsCMA CGM has signed an agreement to acquire a 48% stake in Santos Brasil, a multi-terminal operator managing key assets across Brazil’s ports.
COSCOS Srl, the joint venture between Fratelli Cosulich, the privately-controlled Italian shipping group, and Cosco Shipping Europe, has acquired Navaro-based Trasgo, one of Italy’s leading supply chain companies.
“This is a significant for the Fratelli Cosulich Group because we have successfully completed the acquisition of Trasgo,” said Augusto Cosulich, chairman of the Fratelli Cosulich Group: “However, what really matters to me is showing that, just like in life, finding the right partners to create the conditions for joint investment is crucial. It’s time to underline that it is possible to grow together with established partners, but entrepreneurs need to be open to invest their resources.”
He added: “COSCOS is the result of our long-standing relationship with one of our closest business partners for more than 30 years. Trasgo provides a robust response to the changing logistical needs, and innovation is enabling us to provide our customers with real solutions.“
Anna Ida Russo, managing director of Transgo, believes the sale to COSCOS is beneficial to the company’s future growth and development.
“Our primary objective has always been the growth of the company, a growth that is careful not to distort the principles and values that have always guided our work towards employees, customers and suppliers,” she said. “Trasgo has developed a lot, especially in the last fifteen years, a development which, in an increasingly international panorama, today requires new lymph. We have made this decision, carefully evaluated and considered, because we are convinced that COSCOS, driven by the same principles and values, will be the right partner to allow Trasgo and its entire “family” the deserved further development”.
Trasgo offers a full suite of integrated logistics including transport, warehousing, customs operations, cargo handling and trade fair logistics. It has 14 warehouses with nearly 300.000m2 of storage space and owns over 300 trucks.
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