Logistics company Sea-Cargo acquires controlling stake in Northwards
Freight company Northwards has signed a major deal which sees south-based logistics firm Sea-Cargo Aberdeen Ltd take a controlling stake.
The contract allows Sea-Cargo to take 62.5 per cent of Northwards shares. In return Sea-Cargo’s complete network for sales, marketing and operational services will be made available to Northwards and its clients.
The venture has been described as “an extensive strategic co-operation” and cements a commercial relationship the two have enjoyed for many years through terminal arrangements in Aberdeen.
It is hoped the deal will pave the way for new routes to be created and an upgrade in equipment. New vessels could appear once the ink on the agreement has dried.
Northwards managing director Neil Leslie said the deal would mean good news for the company.
He said: “The deal brings onboard a company who has a 62.5 per cent share in Northwards.
“It’s in a very strong position and is a well-run company that will help us evaluate the things we do to put in place processes that makes our business more efficient through time and to help to grow and develop it in the proper way.
“It’s business as usual at the moment and I can only see things getting better and us being able to add to what we do.”