Baltrans increases stake in Clover Cargo

LISTED GLOBAL freight forwarding and logistics service provider, Baltrans Logistics, has increased its equity in the Clover Cargo Group by purchasing the shareholding of Clover Cargo’s non-executive investment partner. Baltrans Logistics already held a minor shareholding via JLS Logistics, formerly Jardine Logistics, following its acquisition of the Jardine Logistics Group in 2003. JLS Logistics was a start-up partner and shareholder at Clover Cargo’s inception in 1989. Founders and shareholders, Vincent Magnus (CEO) and Geoff Partridge (MD), retain their shareholding and will continue to take the group forward as will Brian Wicht, who heads the Cape Town subsidiary. “We are excited about this move which fulfils our strategy of finding an international equity partner that adds value to our clients’ day-to-day business,” says Magnus. “It comes as clients are increasingly gearing up for the competitive challenges of globalisation.” The Baltrans/JLS Group has been Clover Cargo’s global partner in South Africa’s largest trading regions – Europe, North America and Asia – as well as other key markets for several years. “Our partner identified South Africa as a priority market,” says Magnus. “This closer relationship with Clover Cargo will deliver long-term overseas office network stability as a platform for sustained growth for our clients and ourselves. It also gives us access to international initiatives in freight technology and systems.” Founded in 1982, Baltrans has a network of over 60 offices worldwide. Listed on the Hong Kong Stock Exchange, the company’s worldwide services provide comprehensive coverage of Asia. This includes major locations throughout China. Clover Cargo International is an owner-managed South African logistics service provider offering representation in major cities and at all entry points.