DP World has reinforced its commitment to the global automotive industry with the acquisition of CFR Rinkens, a specialized logistics service provider headquartered in Long Beach, California. 

In a statement, DP World said the acquisition of CFR Rinkens represents a "strategic move" to enhance its capabilities in delivering precisely tailored solutions to its automotive clients.

 [Source: DP World]

The announcement said DP World already transports one in every ten new cars worldwide, and this acquisition brings new dimensions to the company's comprehensive suite of services. 

CFR Rinkens has specialized expertise in containerized vehicle logistics, including innovative racking systems.

"This additional depth of knowledge is set to fortify DP World's position as a trusted partner for automotive clients, supporting them through the industry's transition to electric vehicles and the global evolution towards sustainable energy solutions," DP World said.

CFR Rinkens also brings its experience in delivering tailored logistics solutions to the emerging energy storage and battery life cycle industries.

DP World noted that the acquisition fortifies DP World's ability to customise its offerings to meet the evolving needs of its clients. 

"We are thrilled to welcome CFR Rinkens into the DP World family as we continue to deliver our strategy to provide innovative end-to-end logistics services to our clients. Our combined capabilities will empower our automotive clients to navigate the challenges presented by the industry's shift to electric vehicles and the emerging green energy revolution," said Beat Simon, Global Chief Commercial Officer of Logistics at DP World.

Christoph Seitz, CEO of CFR Rinkens said the merger would see "substantial growth opportunities" ahead through their extensive global terminal and logistics network.

"We are confident that integrating with DP World will empower us to expand into new markets and elevate our service offerings, ensuring unparalleled value for our clients," he said.

Handling over 10% of the global automotive trade and collaborating with top manufacturers, DP World leverages its interconnected network of 'roll-on-roll-off' (Ro-Ro) ports, sea vessels, warehouses, and freight forwarders to transport finished vehicles to global markets efficiently. 

Boasting 16 Ro-Ro terminals, shipping over 30,000 cars in containers annually, and offering storage solutions for over 1 million cars, DP World's strategic sites handle 2 million car equivalent units each year while also providing value-added services for dealer-ready vehicles.

The financial advisory services for CFR Rinkens in this transaction are provided by Cascadia, while Rutan & Tucker serves as the legal advisor. The specific terms of the deal have not been disclosed, and the arrangement remains subject to standard and customary approvals.