Stolt signs deal for Taby operations

Stolt-Nielsen SA, a sea transport service provider, has signed an agreement to acquire the tank container operations of Taby Group.

Taby Group, with an annual turnover of about $120 million (Dh440m), is a privately held company headquartered in Hamburg, Germany. Taby currently operates a fleet of approximately 5,000 tank containers, including many specialised units for aggressive or high-purity products, and for compressed liquefied gases and cryogenics.

Taby operates primarily in Europe, the United States, South-East Asia, China and Taiwan, and is focused on the development of emerging markets in Turkey, India, the Middle East and Brazil.

The transaction will close in the fourth quarter, subject to the approval of German regulatory authorities.

"The Taby Group is a well-managed company with a strong reputation for safety, quality and good service. The acquisition will expand both our specialised service capabilities and our global network," said Michael W Kramer, President of Stolt Tank Containers (STC).

"Taby's customers can expect a completely seamless transition, as we are fully committed to maintaining the strong long-term customer relationships that Taby has built over many years in business. The dedicated employees of Taby consistently perform to the industry's highest standards, and we look forward to welcoming them into STC's worldwide organisation."

Konrad Strauss, Managing Director of Taby Group, said the company's service concept and geographic focus will strongly complement the capabilities of STC. "Our customers, in turn, will have access to broader markets, and our employees will benefit from being part of a successful and growing organisation with a substantially larger global reach," he said.

STC is the leading provider of door-to- door global logistics and transportation services for bulk liquid chemicals and food-grade products.

Through its worldwide network of 15 offices, STC operates the world's largest fleet of stainless steel ISO tank containers, with nearly 21,000 currently in service, and manages more than 80 fleets of tank containers on behalf of its customers.

The company, through the parcel tanker, tank container, terminal, rail and barge services provides integrated transportation solutions.