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Johannesburg - Barloworld's (BAW) recent acquisitions offer significant growth for the group's logistics division, CEO Clive Thomson said on Monday.
Barloworld recently acquired the Dubai-based Swift Group and Flynt International in Hong Kong, including a number of their affiliates in the Far East, India, United Arab Emirates, Africa and Germany for a total consideration of $83m.
These businesses provide niche services and logistics activities in their markets and will enhance the solutions offered by the group's growing logistics division.
The acquisitions will be included in the group's results from April 2008.
Speaking during a presentation of the group's first half results, Thomson said that the acquisitions offer Barloworld logistics entry into the global logistics "mainstream".
The initiative will catapult Barloworld logistics into the global logistics arena, especially with regard to freight movements from south-east Asia into Europe and Africa.
It also offers the group a significant presence in Dubai - a future global logistics hub - while enhancing Barloworld Logistics Africa's expansion in the rest of Africa.
- I-Net Bridge