Grindrod has acquired the business of Bay Stevedores, backdated to be effective from July 1, 2007. Bay Stevedores will become a division of Grindrod Terminals, a wholly owned subsidiary of Grindrod Ltd. Financial details of the deal have not been disclosed.
The deal took a while to finalise because the stevedoring licence and property lease agreement with Transnet had to be transferred to Grindrod Terminals.
Established in the port of Richards Bay in 1993, Bay Stevedores specialises in the payloading and separation of bulk cargo. The company provides services to Grindrod-affiliated companies as well as third parties.
“Our business is about moving cargo and taking care of all logistical factors on route,” said Dave Rennie, executive director Grindrod Ltd. “The acquisition of Bay Stevedores is simply the purchase of another piece of the supply chain puzzle. This business complements our existing terminal operations in Richards Bay and goes hand in hand with Grindrod’s strategy to grow its service offering to customers in the bulk cargo handling market.”
Bay Stevedores directors Frank Phillips and “Dup” du Preez will continue to run the operation, and all management and staff have been retained.
The deal took a while to finalise because the stevedoring licence and property lease agreement with Transnet had to be transferred to Grindrod Terminals.
Established in the port of Richards Bay in 1993, Bay Stevedores specialises in the payloading and separation of bulk cargo. The company provides services to Grindrod-affiliated companies as well as third parties.
“Our business is about moving cargo and taking care of all logistical factors on route,” said Dave Rennie, executive director Grindrod Ltd. “The acquisition of Bay Stevedores is simply the purchase of another piece of the supply chain puzzle. This business complements our existing terminal operations in Richards Bay and goes hand in hand with Grindrod’s strategy to grow its service offering to customers in the bulk cargo handling market.”
Bay Stevedores directors Frank Phillips and “Dup” du Preez will continue to run the operation, and all management and staff have been retained.