Terry Hutson
IN A surprise development, shipping and logistic company Grindrod this week acquired the South African operation of Inchcape Shipping Services (ISS) and in the process formed a strategic alliance with Inchcape Shipping Services' international network, the world's largest independent network of shipping agencies.
While ISS has become a member of the Grindrod Group it will nevertheless continue to operate exclusively as part of the Inchcape Shipping Services global network, says Simon Morse, CEO of Inchcape Shipping Services. He said that the partnership means that Grindrod has substantially increased its local market share of the ships agency business while enabling ISS to provide an extended range of services to its South African clients.
In order for us to continue to progress beyond the confines of a traditional agency, we need to ensure that we have the necessary local presence in all our key markets, he explained to FTW. In those markets where the current ISS operations lack the scale and leading local agencies are not available for acquisition, we had to look for more creative solutions to achieve our goals. We are therefore delighted to now be able to incorporate the local strength of Grincor within our global network.
Paul Voigt, who in terms of the agreement continues as managing director of ISS, said he was very pleased with the development, as it gave ISS all the local advantages that come with the backing of a large and leading South African company like Grincor.
At the same time we do not lose any of the advantages of being part of the world's largest network of shipping agencies.
Ivan Clark, Grincor managing director, told FTW that the deal was another positive step in Grincor's growth in South African shipping. He said that Inchcape, and in particular its senior management, was well respected in local shipping circles.
With this acquisition we continue to add top class entrepreneurs to our business, which we see as a big plus in furnishing our clients with hands-on personalised experience.
Clark added that Inchcape would continue to operate independently under its current management, which Grincor felt would fit easily into the Group's style. The agreement comes into immediate effect.
Copyright Now Media (Pty) Ltd
No article may be reproduced without the written permission of the editor
To respond to this article send your email to joyo@nowmedia.co.za
