Wallenius Lines has announced a 20 per cent stakeholding in Albateam, the consortium that has signed an agreement to acquire Renault’s transport and logistics subsidiary C.A.T.
C.A.T., the Compagnie d’Affretement et de Transport, will be the platform for Albateam to meet the needs within the global vehicle industry and its logistics. The other partners in the Albateam consortium are AutoLogic Holding plc, TPG through its TNT Logistics division, and Renault.
“C.A.T. enables Wallenius Lines Group, including joint ventures, to better service customer demands and needs for the future. We will be able to add valuable knowledge and know-how to enable the growth and development of the C.A.T. business and its employees. We see this acquisition as a strategic investment in a sector where we have signigicant complementary expertise and in which we have considerable investments,” says Christer Olsson, president, Wallenius Lines.