Santova acquires procurement and logistics business AEMC for R1.6m
Santova said the acquisition of AEMC formed part of the company's strategy to expand its services and footprint into Africa and would have a synergist effect on Santova's projects capability.
"The acquisition is expected to have a positive impact on the group's results, however, the full effects of this will be felt only in future financial periods and will not materially affect the group's results for the 2016 financial year-end," Santova said.
Concerning its acquisition of Masterfreight Internationale Spedition GmbH - a freight forwarding and clearing agent based in Frankfurt, Germany - the company announced the expansion of Masterfreight through the establishment of a new office in Hamburg.
"This expansion is part of the group's strategy to establish sea and air freight capabilities in all major transportation gateways throughout Europe," the company said.
Source: BDpro