De Rijke takeover deal

30 May 2005 00:00  [Source: ICB]

Dutch family-owned concern De Rijke has agreed to take over compatriot firm Wetro’s activities in the Europoort area. The deal, which excludes Wetro’s substrates production on the site, should be finalised by 1 June.

The purchase comprises a fleet of 35 trucks and 60 tank trailers as well as a site measuring 84 000 m2. This includes a 6000m2 warehouse for dangerous goods with drumming equipment, 13 000m2 of covered storage and 15 000m3 of stainless steel tank storage capacity.

De Rijke said it intends to invest several million euros in building around 30 new stainless steel tanks up to 2000m3 in size.

The complex also has extensive rail facilities and access to two jetties: one for deepsea vessels up to 40 000 tonne and one for coasters up to 5000 tonne.

The Port of Rotterdam said the takeover ‘strengthens its position in chemical logistics as the central Europoort area is likely to accommodate more chemical related activities in the near future.’

Minco van Heezen, the Port of Rotterdam’s spokesman, said that talks were ongoing with three chemical producers who are interested in locating on the site, one of whom is in the ethanol business.

The Port of Rotterdam’s 2004 net income has slumped as alleged guarantees to former shipyard RDM and associate companies hit performance. Income dived to €7m compared with €56m in 2003.

The affair resulted in a one-off additional expense of €9m and forced the company to provide €49m to meet its guarantees with the banks.

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