CMA CGM Group Announces Merger
The CMA CGM Group has announced a merger between its subsidiaries MacAndrews and Oldenburg-Portugiesische Dampfschiffs-Rhederei (OPDR) to further strengthen its multimodal offer in Europe.
It was announced yesterday and further cements CMA CGM as a global leader. CMA CGM is currently the third largest container shipping company by TEU capacity.
The merger is in line with CMA CGM’s strategy to develop its intra-regional activities and accelerate its development, said a CMA CGM spokesperson. It will be completed on January 1, 2018, according to a statement by the Group.
Key to this strategy is the complementarity of the geographical zones covered today by MacAndrews and OPDR.
The union will see the Group maintain a presence in 16 countries, 36 agencies and 18 services. It will boast 595 employees; 310 at OPDR, and 285 at MacAndrews.
Both subsidiaries have strengthened CMA CGM’s capabilities in Europe.
CMA CGM acquired MacAndrews, the oldest shipping company in Europe, in 2002. MacAndrews offers rail, land and maritime transport services to customers and is a specialist in container transport on short-sea routes as well as multimodal solutions in Europe. MacAndrews connects Great Britain, the Iberian Peninsula and Poland.
OPDR, acquired by CMA CGM in 2015, is an expert in intra-European short-sea transport and logistics. OPDR mainly covers Central Europe, Spain (including the Canary Islands), Portugal and Morocco.
CMA CGM has assured that job cuts in each entity, as well as existing services, will not take place.
The merger comes on the back of a solidification of CMA CGM's Asia presence. As recently as November 29, 2017 CMA CGM announced it was establishing a hub for its digital activity in Singapore.
The group moved its Asian base from Hong Kong to Singapore, as well as setting up a container terminal joint venture with port operator PSA.
"We decided that the place to be in Asia to develop our digital activity is Singapore," said CEO of CMA CGM Rodolphe Saade.
"We believe that Singapore is ahead of the curve in terms of the digital business.”