Billion dollar war chest for APL
The expansion of APL Logistics was given a major boost last week as parent company Neptune Orient Line (NOL) began a programme to raise US$lbn (E1.18bn) through bond issues.
The Singapore-based shipping and logistics giant said the funds would be used to expand the group’s businesses and refinance existing borrowings, but hinted strongly that the bulk would go into the logistics arm.
Group president and CEO Flemming Jacobs said: “Supply chain management is where we
see enormous potential.
“We have ambitious plans for APL Logistics. The acquisitions so far – in the US with GATX Logistics, and in Europe with Germany’s Mare Logistik & Spedition – have added to our
global network and our supply chain management capabilities. More may be added.”
NOL has launched the first phase with a S$540m (E348m) issue.
APL Logistics told IFW in May that it wanted to grow its European business to E1bn,
and was in talks to buy or partner up with companies in France, Benelux and the UK.
However, a spokesman played down the idea that a big European acquisition was
imminent: “There is no doubt that it is there to fund future growth of APL Logistics but there is no specific acquisition or area that it has been tied to.”
