Day: 22 February 2019

DP World has bought P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of GBP322mn (USD421mn), implying a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x.

P&O Ferries is a pan-European integrated logistics business consisting of a market leading roll-on roll-off (Ro-Ro) ferries operation and a European transportation and logistics solutions provider, P&O Ferrymasters. P&O Ferries operates a fleet of 21 vessels on the Short Sea, North Sea and Irish Sea sectors across 11 ports whilst P&O Ferrymasters provides supply chain solutions in 19 European locations. P&O Ferries handles over 2.5mn freight units per year which accounts for approximately 75% of group revenues. P&O Ferries reported FY2017 revenues of GBP1.1bn (USD1.4bn) and EBITDA of GBP100mn (USD131mn).

The transaction is subject to customary completion conditions and is expected to close in the first half of 2019.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “We are pleased to announce the return of P&O Ferries back into the DP World family. P&O Ferries is a strong, recognisable brand and adds a best-in-class integrated logistics provider into our global portfolio. Importantly, P&O Ferries provides efficient European freight connectivity building on last year’s acquisition of Unifeeder. This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.

 

Printing expert Printronix Auto ID has just announced the re-introduction of its popular scrappage scheme across Europe. It is inviting companies running its old, discontinued T5000 machines and other industrial thermal barcode printers to trade them in and trade up to T8000 devices and enjoy discounts of up to 7%.

“Following the success of the ‘trade in/trade up’ scheme we launched in Spring 2018, we have re-introduced it by popular demand this year,” says Neil Baker, Printronix Auto ID’s Sales Manager UK, Ireland, Benelux & South Africa. “It enables firms to enjoy the improved performance of our newer printers at a discounted price as well as ensuring their traded in devices are disposed of safely and responsibly.”

“Mindful of our WEEE responsibilities, we are working with a professional Europe-wide waste management company with an excellent reputation. It will collect the old devices and dispose of them in line with EU standards,” adds Neil.

The trade in/trade up offer is open to any European company. To participate in the scheme, businesses need to supply the printer model and serial number of the device(s) they are trading in. They can either do this by contacting their local reseller, or by applying for the scheme via the web link printronixautoid.com/trade-in

Under the scheme, firms in the EU can trade in/trade up as little as one device. For European companies outside the EU, the minimum number of old industrial printers to be traded in and traded up is five.

“By trading in their old T5000 for a new T8000, businesses would notice a real difference in performance and build,” suggests Jon Trippett, Printronix Auto ID’s Sales Manager UK & Ireland. “The T8000 is rugged and feature-rich,” he says. “It offers 40% faster print speed, eight times more standard memory, full colour 3.4” display panel, a quick change memory card (QMQC) and the industry’s most extensive library of printer emulations including PostScript/PDF printing.”

Companies interested in participating in this sustainable scrappage scheme should first register their interest at printonixautoid.com/trade-in and complete the online trade-in form. Once firms have had their trade-in accepted and the purchase order (PO) placed, the new T8000 will be delivered.

No later than 10 days after the new printer has been received, the traded in T5000(s) have to be ready for collection by the scrapping company otherwise the discount can’t be awarded. This offer cannot be used in conjunction with any other promotions and terms and conditions apply.

Automotive logistics specialist GEFCO has deployed route optimization software from Descartes Systems Group to respond to calls for tenders and to support its regional businesses with optimization studies.

With a presence across 47 countries, GEFCO manages several million shipments a year on behalf of its customers. The automotive logistics company has chosen Descartes’ route optimization software for the planning of its European transport activity. However, rather than using it to schedule and plan actual operational routes – the usual function of the software – GEFCO has deployed the software to better respond to calls for tenders and carry out internal studies.

“Descartes route optimization software was originally conceived and designed to be deployed in an operational capacity within our regional businesses to manage collection and distribution rounds. We, however, have now adopted it for internal use at a corporate level, to respond to calls for tenders and support our regional business units by undertaking centralised optimization studies,” explains Charles Fouche, GEFCO’s Engineering & Optimization Manager.

Within the tender process, Descartes route optimization software functionality allows GEFCO to take into account the unique constraints of each customer, helping GEFCO to run route simulations and to formulate proposals which are much more precise and relevant, ultimately offering more value to customers. “Thanks to Descartes, we have won tenders,” adds Fouche.
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