Subscribe to RSS feedPOTA to acquire Sydney empties rival MCS
P&O Trans Australia (POTA) this morning confirmed a binding agreement to acquire all of the shares in Sydney rival Maritime Container Services (MCS).
POTA sees synergies in MCS acquisition
The parties expect to complete the transaction next month.
MCS operates two empty container storage and repair parks in Sydney – Cooks River and Banksmeadow – with combined capacity of 15,000 teu, according to its website.
The group also has a road transport division operating B-doubles, side-loaders, retractables, drop decks and 40ft and 20ft trailers, as well as a full-container storage and handling division.
The MCS website said the company employed 120 staff.
A POTA statement pointed to the synergies between the two businesses.
"The two businesses combined will enable enhancements to the current operations, including better utilisation of sites and transportation fleet, and to realise corporate and administrative cost savings," POTA said.
"It is anticipated that the current key operational MCS management team will be continuing with the business and will join the local POTA team."
MCS was established in 1973 and claims to be Sydney's oldest container storage and repair company.
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