CWT acquisition strengthens commodity business in Africa

Expanding its commodity business in Africa was the motivation behind the recent purchase by integrated logistics solutions provider CWT Limited of a 60% stake in Aquarius Shipping International. It’s a strategic move to strengthen its commodity logistics capabilities and business network in the Africa region, a CWT spokesman said. The CWT Group offers commodities logistics services through its wholly owned subsidiary CWT Commodities which specialises in the handling and storage of ferrous and nonferrous metals, soft commodities, plastics and energy products. Since its establishment in 1997, logistics company ASI has served most of the world’s major tobacco companies. It also works with a select group of commodity brokers and suppliers. CWT foresees great synergies from this strategic acquisition, the spokesman said. “With its established business network and management team’s vast local knowledge, ASI will further expand and strengthen the Group’s commodity logistics business in Southern and Eastern Africa. “The existing ASI network and capabilities will help escalate the business growth in Turkey as well as facilitate the expansion of its commodity-related value added services into the African continent,” he said.