Abu Dhabi [UAE], December 25 (ANI/WAM): AD Ports Group today announced the completion of the biggest restructuring in its corporate history, integrating the assets of recently acquired Noatum Group into its existing business structure.
The integration of Barcelona-based Noatum Group, a vertically integrated provider of global logistics services with activities in 32 countries and 16 terminals in Spain, is designed to leverage Noatum's international brand equity and solidify AD Ports Group's corporate structure while pursuing its international expansion strategy.
Under the new business structure, Noatum's corporate head office in Spain has been integrated into AD Ports Group's existing and new business verticals.
The Maritime operating unit of Noatum Group has been fully integrated as a new business segment into SAFEEN Group, which has been renamed as Noatum Maritime.
The former Noatum Terminals operating unit has also become a component of the newly established Noatum Ports, leveraging Noatum's international reputation. Noatum Ports will manage the existing and future international port operations of AD Ports Group.
Noatum Logistics had already previously assumed day-to-day responsibility for AD Ports Group's Logistics Cluster business in July 2023 after the Noatum acquisition was completed.
The restructuring of Noatum into AD Ports Group, which now has 33 terminals and activities in more than 50 countries, has led to operating efficiencies and synergies that are supporting the Group's international growth strategy. The cross-selling efforts, new products and solutions development, penetration of new geographies, and enhanced synergies, are helping solidify AD Ports Group's position as a leader in maritime and logistics solutions, as well as a prominent trade enabler.
AD Ports Group has almost tripled revenue since 2021 through organic growth and major acquisitions such as Noatum, which it acquired for AED 2.65 billion (USD 720 million) in 2023, and Global Feeder Shipping (GFS), a Dubai-based global container feeder shipping company, for AED 1.9 billion (USD $510 million), among others.
The acquisitions of Noatum, GFS and other investments in Egypt, Central Asia and Sub-Saharan Africa pertaining to the Maritime & Shipping, Logistics and Ports Clusters have significantly raised AD Ports Group's global profile and reach. This year, the Group for the first time entered the ranks of the world's 20 biggest container ports operators in a survey by Drewry International. In a separate ranking based on different criteria, the Group placed 40th in Lloyd's List Top 100 global list.
Captain Mohamed Juma Al Shamisi, Group Chief Executive Officer and Managing Director, AD Ports Group, said: "The successful integration of Noatum's assets marks a major milestone in the corporate development of AD Ports Group, which has evolved under the wise vision of our leadership into a premier global provider of trade, transport and logistics services. The addition of Noatum's international brand equity, global networks, customer relationships and assets has not only strengthened and broadened the economic horizons of our Group, but it has positioned AD Ports Group for its next stage of growth.''
A major priority of the restructuring has been to drive shareholder value by maximising collaboration and exploiting opportunities for synergies between the Group's clusters. The value-enhancing fusion of Noatum and AD Ports Group realised through new products, cross-selling and synergies across geographies and business clusters will sustain the Group's further top- and bottom-line growth.
Captain Al Shamisi added: "We are now entering our next phase of delivering AD Ports Group's strategy and enabling streamlined execution of our ambitious plans. By fully leveraging the new additions to our Group, we will unlock the full potential of these mergers and acquisitions through synergies that solidify our competitive edge and ensure our continued leadership in existing and new global markets.''
Established in 2006, AD Ports Group is an integrated trade, transport, industrial and logistics group and a strategic gateway to Abu Dhabi and the United Arab Emirates. The company is 75% owned by Abu Dhabi investment and holding company ADQ, and its shares are traded on the Abu Dhabi Securities Exchange. (ANI/WAM)