Wallenius Wilhelmsen Logistics (WWL) and DB Cargo (DB) have signed a contract to develop a joint venture multi-modal logistics hub, “Mediterranean Hub Monfalcone Srl”, in 2017 at the Port of Monfalcone on the Italian Adriatic coast.
The business will provide logistics solutions to support and manage the total outbound supply chain of vehicle manufacturers in Europe – from the factory to key distribution points in the Mediterranean and Asia. The business will provide outbound vehicle logistics coordination and management of rail operations, terminal services and storage at the port of Monfalcone. Wallenius Wilhelmsen Logistics will maintain a 51% stake in the business.
“With this joint venture we are meeting the demands of OEMs to introduce a solution that will reduce the transport time to Asia, and simplify the supply chain. In cooperation with WWL, DB will offer an integrated logistics solution from Europe to Asia via the Port of Monfalcone,” said Andreas Busemann, Chairman of Sales at DB.
“Launching in 2017, this exciting joint venture between Wallenius Wilhelmsen Logistics and DB Cargo will offer vehicle manufacturers a new, reliable point of exit from Europe and additional transport options to Asia that can reduce overall cargo transport times by more than a week,” said Konrad Kurz, Head of Land-based Operations for EMEA at Wallenius Wilhelmsen Logistics.
Executives from Wallenius Wilhelmsen Logistics and DB Cargo signed the contract today at the Port of Monfalcone, joined by Compagnia Portuale Srl a Socio Unico which will serve as the local terminal operator at the port. Also present for the signing of the agreement were executives from the Port of Monfalcone, which supports the export needs of automotive manufactures.
The transaction is subject to the approval of the German Federal Cartel Office.