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Valvoline Announces Pricing and Upsizing of Senior Notes Offering

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Valvoline Announces Pricing and Upsizing of Senior Notes Offering

Valvoline Inc. (“Valvoline”) (NYSE: VVV) has today announced the commencement of an offering of $500 million aggregate principal amount of Senior Notes due 2030 (the “Notes”).  The Notes will be unsecured unsubordinated obligations of Valvoline.

Each of Valvoline’s subsidiaries that guarantees Valvoline’s obligations under its existing senior secured credit facilities will guarantee the Notes on an unsubordinated unsecured basis.  Valvoline intends to use the net proceeds from this offering to fund the redemption of all of its outstanding 5.500% Senior Notes due 2024 and to pay related fees and expenses. Valvoline intends to use the remaining net proceeds for general corporate purposes, which may include acquisitions, repayment of indebtedness under its credit facility, working capital and capital expenditures.

The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.  The Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes.  No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

About Valvoline™

Valvoline Inc. (NYSE: VVV) is a leading worldwide marketer and supplier of premium branded lubricants and automotive services, with sales in more than 140 countries. Established in 1866, the company’s heritage spans more than 150 years, during which time it has developed powerful brand recognition across multiple product and service channels. Valvoline ranks as the No. 3 passenger car motor oil brand in the DIY market by volume. It operates and franchises approximately 1,400 quick-lube locations, and it is the No. 2 chain by number of stores in the United States under the Valvoline Instant Oil ChangeSM brand and the No. 3 chain by number of stores in Canada under the Valvoline Great Canadian Oil Change brand. It also markets Valvoline lubricants and automotive chemicals, including Valvoline High Mileage with MaxLife technology motor oil for engines over 75,000 miles; Valvoline Advanced Full Synthetic motor oil; Valvoline Premium Blue™ heavy-duty motor oil; Valvoline Multi-Vehicle Automatic Transmission Fluid; and Zerex™ antifreeze.

™ Trademark, Valvoline or its subsidiaries, registered in various countries
SM Service mark, Valvoline or its subsidiaries, registered in various countries

Forward-Looking Statements

Certain statements in this news release, other than statements of historical fact, including estimates, projections and statements related to Valvoline’s business plans and operating results, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with words such as “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “may,” “will,” “should” and “intends” and the negative of these words or other comparable terminology.

These forward-looking statements are based on Valvoline’s current expectations, estimates, projections and assumptions as of the date such statements are made and are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements.

Additional information regarding these risks and uncertainties are described in the company’s filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Quantitative and Qualitative Disclosures about Market Risk” sections of Valvoline’s most recently filed periodic reports on Forms 10-K and Forms 10-Q, which are available on Valvoline’s website at http://investors.valvoline.com/sec-filings or on the SEC’s website at http://sec.gov.

Valvoline assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future, unless required by law.

Source: Valvoline Inc.

JK Tyres Launches SMART TYRE Range

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JK Tyres Launches SMART TYRE Range

JK Tyre & Industries Ltd has launched its new SMART TYRE range at the Auto Expo 2020. A first-of-its-kind cloud-based monitoring system; Smart Tyres warrants maintenance of tyres through timely diagnostics by using sensors integrated with a Tyre Pressure Monitoring Systems (TPMS). The sensors thus augment updates on tyre health via multiple digital platforms like the company’s indigenous TREEL Care app and web page.

The Smart Tyre technology allows for early detection of issues and deployment of timely preventive measures to avoid them and also delivers higher fuel efficiency up to 4-5% leading to a reduction in carbon emission. In addition, through this technology, the tyre life is enhanced thereby minimizing operational expenses, the company said.

Monitoring all aspects of the tyre, Smart Tyre screens tyre’s vital statistics, including pressure and temperature. The information collected by this smart monitoring system is relayed on a real-time basis to the vehicle owner’s smartphone via Bluetooth on a mobile application. Additionally, sensor-enabled technology helps the customers maintain optimal tyre pressure, which not only helps the environment but also provides better safety on the road.

The Smart Tyre technology is compatible with cars, bikes and trucks/buses. It is available in three variants for cars- Smart Tyre Sensor Car Kit: Valve, MTrac Smart Sensor Car & Truck Kit: Valve and MPower Smart Sensor Car Kit: Valve. Similarly, it is available in two variants for bikes- Smart Tyre Sensor Bike Kit: Belt and MTrac Smart Sensor Bike Kit: Belt.

Commenting on the occasion, Dr. Raghupati Singhania, Chairman & Managing Director said, “JK Tyre has always been at the forefront of innovation and technology. Being the market leaders in the Indian tyre industry, we have once again lived up to our leadership role by delivering ‘Smart Tyre’ – an extension to our promise of providing advanced mobility solutions to our customers. This technology provides an enhanced value proposition to vehicle owners, particularly fleets, by reducing their operational costs. Along with this, we have also showcased our new range of concept tyres here at the Auto Expo and we have a roadmap laid in front of us, as we plan to move ahead with a number of new products including some breakthrough innovations this year.”

Concept Tyre Zone:

Along with the launch of Smart Tyre Technology, the company also showcased an exciting array of concept tyres at the Auto Expo 2020:

Puncture Proof Tyres

Punctures are common on Indian roads. This unfortunate situation that can jeopardize a driver’s safety. Tyre puncture repair is a tedious task and to address this issue, JK Tyre has introduced Puncture Resistant Technology. A concept developed for cars and two-wheelers, the Puncture-proof tyre has unique sealants forming a protective layer which repairs punctures automatically thereby ensuring a hassle-free and safe drive.

EV Tyre

The electric vehicle industry in India is evolving and JK Tyre is ready to cater to the needs of the EV industry. These next-gen tyres have an optimized tread pattern which is ideal for Electric vehicles. Loaded with features like Low Rolling Resistance, low noise emission and superior wet traction, these EV Tyres offer a greener and environment-friendly drive.

Colored Tyre

One of the most attractive and eye-catching product from the JK Tyre stable, these colored tyres are for the auto freaks who do not think conventional. These colored tyres are made from the specially formulated colored rubber compound and are available for Cars and Two Wheelers.

Fuel Saver Tyre

The next generation of fuel-efficient tires-the XF series is built on the cutting edge advanced JETOCT technology, which helps improve tyre efficiency by saving up to 8% fuel in comparison to normal radial tyres.

Tubeless Radials

Designed to meet the emerging needs of the Indian fleets, these Tubeless Radial Tyres for Trucks and Buses are developed with a new silica compound, which provides longer life, fuel savings and lower cost of operations.

WABCO Auto Parts set to open a new facility in Turkey

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WABCO Auto Parts set to open a new facility in Turkey

WABCO, one of the world’s leading manufacturers of braking systems and safety applications for commercial vehicles, held a ground-breaking ceremony in the northwestern province Sakarya for its first manufacturing facility in Turkey.

Plant Cost

The company’s plant will cost around $20 million and will sell to customers in Turkey, Europe and the Middle East. The facility will eventually provide jobs for up to 600 people and will carry out exports worth at least $100 million a year, Industry and Technology Minister Mustafa Varank said in his speech at the ceremony.

The investments by the manufacturer in Turkey have grown in recent years. The new manufacturing facility follows the October 2018 opening of WABCO’s distribution center in Istanbul.

In 2011, WABCO opened an international sourcing and purchasing office in Istanbul, which purchases parts and sub-assemblies worth over $50 million from a wide range of Turkish suppliers annually.

In the next four years, the company aims to increase the number of local suppliers it cooperates with in Turkey to 32, bringing its annual purchases up to $120 million.

“WABCO has transferred important funds due to purchasing activities in our country over the years, strengthening domestic suppliers. By establishing the logistics center in October 2018, it launched another important phase of the supply chain. Now, it completes all the links of the chain by also carrying out its production in our country,” Varank said.

The minister noted that with the investment, WABCO would ensure that the country benefits from value addition as well as it will be manufacturing its final product in the country. In the past the company was procuring parts from the domestic automotive supply industry and was manufacturing its final goods in the factories abroad.

Production Process

All sub-components in the production process will be supplied from Turkey, Varank said. He added that the first phase of the factory that will be completed in August will manufacture brake cylinders, hydraulic brakes and crankshafts for compressors. Construction for the second phase in which compressors will be produced will start afterward.

WABCO will be exporting a large part of the production, to the automotive and commercial vehicle producers it works with across the world, with most exports going to European countries.Turkey is the biggest automotive supplier of the European Union, Varank noted.

The industry and technology minister highlighted that 2020 will be marked by the launch of new mega-scale investment projects in chemistry, petro-chemistry, transportation technologies, integrated mining, defense and electronics. “With these new projects, we will maintain a healthy and sustainable growth trend that creates job opportunities. We aim to make Turkey a center of economic attraction with global investments,” Varank said, noting that the ministry will introduce a more flexible structure for incentive schemes.

In order to attract more research and development (R&D) activities by global firms, the ministry offers great opportunities to firms operating in technoparks, and R&D centers established by private sector firms. “Thanks to the R&D lab support program, leading global firms are able to find centers in Turkey,” Varank said, calling on WABCO to establish an R&D center in the country.

The industry and technology ministry, prioritizes policies to advance the current industrial capacity and localize production. “The technology-oriented industry program, technology and innovation fund, regional development fund and support schemes for entrepreneurs are some of the visionary programs the ministry implements,” he said, adding, “We would like to see more private sector businesses to capitalize on the support programs at the maximum level.”

WABCO in Turkey

The plant in Sakarya to be established on a 40,000-square-meter area – of which 8,000 square meters will be used in the first stage – will provide employment to around 300 people.

Delivering a speech at the ceremony, Jacques Esculier, WABCO chairman and CEO, called Turkey “an automotive country.” He stressed the country is among the world’s top 20 strongest economies, pointing to its high growth potential.

Underlining the company’s trust in Turkey, Esculier emphasized that the company’s customers and suppliers in Turkey have an important place in WABCO’s global strategy.

“The new manufacturing facility will enable WABCO to leverage the local manufacturing talent base and benefit from the country’s exceptional infrastructure and logistics capabilities,” said Nick Rens, WABCO president for Europe, the Middle East and Africa (EMEA).

“This will allow us to further strengthen our customer intimacy locally as well as export products from Turkey across Europe and the Middle East to further enhance WABCO’s competitiveness in those regions,” Rens added.

WABCO Establishment

Since 1982, WABCO has established strong roots in Turkey, forging deep relationships across the country’s commercial vehicle industry, and building a strong leadership position in its market locally.

“The new facility will allow WABCO to progressively localize the manufacturing of its products supporting the local market. This will further enhance our service to local customers by delivering high quality, cost-efficient products with agility, speed and flexibility,” said Kazım Eryılmaz, WABCO country leader for Turkey.

WABCO is a major global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles.

The leading truck, bus and trailer brands worldwide rely on WABCO’s differentiating technologies. Powered by its vision for accident-free driving and greener transportation solutions, WABCO is also at the forefront of advanced fleet management systems and digital services that contribute to commercial fleet efficiency. In 2018, it reported sales of over $3.8 billion and has more than 16,000 employees in 40 countries.

Will the new look Honda CR-V arrive in PH this 2020?

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Will the new look Honda CR-V arrive in PH this 2020?

We all know what the updated Honda CR-V looks like by now. First revealed in North America, it got a fresher look, incorporating new elements from its current design language. Honda first showed the car back in September 2019 but there hasn’t been any news on when it will arrive here.

This time around, the wait might not be too long. It has been reported that the new-look CR-V will arrive in the region by March of this year. With Thailand somewhat serving as a barometer of what cars will be launched here, this is particularly good news for those looking forward to the updated CR-V.

Simply put, the launch in Thailand means it might not be much of a long wait before we see it in our showrooms. The crossover will likely make its regional debut at the 2020 Bangkok International Motor Show (BIMS) on March 25.

So what can we expect in the 2020 CR-V? For the exterior, we’re likely to see the same treatment made to the US-Spec CR-V, save for a few minor changes. These may include the deletion of amber corner lights (a US market requirement) and, possibly, different wheel options. New bumpers at the front and rear are part of the changes for this year, along with tweaks to the lights, tail pipes, and trimmings.

Interior updates and upgrades are limited to a new wireless phone charging system and additional USB ports. We’re also expecting Honda to keep the seven-seat configuration for select variants.

There is, however, a possibility of the Honda Sensing safety package to be added to more models in the range. Typically reserved for the top of the line model, Honda Sensing includes Automatic High Beam Adjustment, Lane Keeping Assistance System, Automatic Emergency Braking, and Adaptive Cruise Control (ACC) with Low Speed Following (LSF). Here in the Philippines, that feature is reserved for the 1.6 i-DTEC SX AWD. We’re hoping we’ll see it in the 1.6 i-DTEC S 2WD when it arrives here.

As for engines, it will likely be unchanged from the ones we see in the present models. That’s the aforementioned 1.6-liter i-DTEC turbodiesel with 120 PS and 300 Nm of torque and the 2.0-liter i-VTEC making 154 PS and 189 Nm of torque. We do hope that we’ll get the upgraded 160 PS version of the turbodiesel but that may drive up the price if HCPI does decide to bring that version in. Transmission options will still likely be a CVT for the gas model and a nine-speed automatic for the turbodiesels.

Honda Cars Philippines isn’t hinting anything just yet. However, given that it’s time for the Philippine International Motor Show this year, it could debut by the third quarter of 2020.

Kumho Tyres appointed OE supplier to Audi

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Kumho Tyres appointed OE supplier to Audi

Jeon Dae-jin, Kumho Tyre’s CEO, recently announced that the company is to supply its CRUGEN Premium KL33 pattern for OE fitment to the Audi Q5. Since its debut in 2008, the Q5 has been Audi’s best-selling SUV and one of the most popular models in its class. Its sporty appearance and roomy, comfortable interior have attracted wide praise from consumers.

Kumho’s CRUGEN series of tyres were specifically developed in response to the emergence of urban SUVs, for which the CRUGEN Premium KL33 is a top-selling product. Optimised for the dynamic driveability of high-performance examples in this class, KL33 offers exceptional on-road handling and braking, plus excellent high-speed stability, making this a sought-after product in its native Korea and the world at large.

Since its debut in 2008, the Q5 has been Audi’s best-selling SUV and one of the most popular models in its class | Image Courtesy KUMHO

It also provides the quiet running and ride comfort required of such up-market vehicles, while its upgraded silica compound guarantees improved economy. Furthermore, its tread pattern is designed to improve driving stability and abrasion resistance, and semi-knurling, 3D blocks and a quartet of wide grooves help ensure safe progress on rain-covered roads.

The Audi Q5 is manufactured in Mexico where it is equipped with CRUGEN Premium KL33 tyres produced in Kumho’s plant in Macon, Georgia, USA.

“Our products will be used in high volumes as OE fit to the Audi Q5, which is a testament to their quality and technological excellence,” said Kim Insoo, Senior Vice President of OE Sales at Kumho. “We will continue striving to develop SUV tyres that satisfy the needs of the ever-growing SUV market.”

 

Press release: KUMHO

 

NHTSA Approves Nuro Self-Driving Car

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NHTSA Approves Nuro Self-Driving Car

For the first time, the U.S. government’s highway safety agency has approved a company’s request to deploy a self-driving vehicle that doesn’t meet federal safety standards for human-driven cars and trucks.

The National Highway Traffic Safety Administration granted temporary approval for Silicon Valley robotics company Nuro to run a low-speed autonomous delivery vehicle, without side and rear-view mirrors and other safety provisions required of vehicles driven by humans. Also not on the safety feature list; windshield wipers, steering wheels or brake pedals.

The vehicles previously were subject to federal standards for low-speed vehicles that travel under 25 miles per hour. Those didn’t need steering wheels or brake pedals and didn’t have to have human backup drivers. Current Nuro vehicles can be monitored and controlled remotely by a human operator, if needed.

In December Nuro announced plans to use its low-speed vehicles, called “R2,” in partnership with Walmart to deliver groceries to customers in Houston. The service was to start early this year and use the vehicles as well as automated Toyota Prius hybrid cars. Nuro also was testing deliveries with Kroger in Arizona and Houston.

Under the temporary approval, Nuro will have to make real-time safety reports to the agency. Nuro also will have to hold regular meetings with the agency and reach out to the community in areas where the vehicles will travel.

“NHTSA is committed to working with industry and key stakeholders to create space for innovation while prioritizing safety,” the agency said in a prepared statement Thursday. The agency will use enforcement powers if it finds any evidence of an unreasonable risk to safety, the statement said.

Telefonica targets autonomous vehicle boost

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Telefonica targets autonomous vehicle boost

Telefonica unveiled an R&D centre which it claimed is the most advanced for the development of connected cars in southern Europe, as it looks to extend the sector by opening opportunities for vehicle makers and start-ups to trial related technologies.

The operator partnered with global testing, inspection and certification body Dekra and local authorities to establish the facility in Malaga. It currently has 15 employees, with Telefonica stating the initial investment exceeded €5 million.

Spanish car manufacturer SEAT is already on board, seeking to use the site to test connected car applications and services with 5G solutions and vehicle-to-everything (V2X) technologies.

In a statement, Maria Jesus Almazor, CEO of Telefonica Spain said the centre “is a key element in advancing this path of standard connectivity to make the connected car a reality”.

From left to right: Beatriz Herranz Casas, Director of Telefónica’s Large Accounts Centre; Agustina García Élez, Councillor for Development of Castilla La Mancha; Jaime Ramos Torres, Mayor of Talavera de la Reina; Javier Gutiérrez, Director of Strategy and Network Development at Telefónica Spain, and Jorge Navais, director of Ericsson’s Telefónica Spain account |Image courtesy Telefonica

The site features a 51,000 square metre outdoor testing area covering a variety of road types and intersections designed to replicate real-world driving conditions, all of which feature sensors.

To enable testing of international as well as Spanish frequencies, the operator collaborated with Ericsson to develop and equip a shielded chamber, which Telefonica said was “unique in Europe”.

Testing available includes advanced navigation and infrastructure; vehicle monitoring and maintenance; payment automation; safety and accident prevention; and assisted and autonomous driving.

The Spanish operator said connected cars will contribute to reducing accidents and emissions, and improving driver experience. It cited US National Highway Traffic Safety Administration information which states V2X-connected technologies and applications could prevent more than 600,000 traffic accidents per year in the country.

In previous efforts to bolster its expertise in connected cars, Telefonica joined other leading operators and car manufacturers in the 5G Automotive Association.

 

Yokohama launches classic car tyre range

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Yokohama launches classic car tyre range

Driving a classic car just got a little safer and more comfortable, with Yokohama relaunching some of its hobby tyres for enthusiasts. The 10- to 16-inch tyre range features materials and construction developed for today’s tyres, mixed with the appearance of rubber sold between the 1960s and 1990s. The tyres are designed to help improve wet weather handling, road noise, and ride quality.

The first tyre to receive a modern makeover is the G.T Special Y350 first seen in 1967, complete with a retro zig-zag pattern. It’s best suited to European and Japanese cars with 14- and 15-inch wheels.

The A539 is an all-round tyre made for 12- to 15-inch wheels, designed to offer classic car owners the luxury of a quiet ride on the highway.

If you own a Porsche 911 Carrera Turbo 930, you’re in luck. Yokohama has been specific with its re-issues, and released the Advan A008P for that car, and that car only. Filling out those wide arches the rear tyres are sized at 245/45R16, and the fronts are 205/55R16.

The HF Type-D 008 is aimed at potential race cars, being essentially a road-legal slick tyre. Designed for 1980s and 1990s cars with wheel diameters between 10- (a Mini springs to mind) and 15 inches, it’s tailored for precise handling and dry traction.

This isn’t the first time a tyre company has catered to those with older cars. Two years ago Pirelli released 40 sets of tyres for the Ferrari 250 GTO, which provided better levels of grip and wear resistance than its original tyres from the 1960s.

Finalists for LEXUS DESIGN AWARD 2020 announced

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Finalists for LEXUS DESIGN AWARD 2020 announced

Lexus has announced the six finalists for the 2020 LEXUS DESIGN AWARD, who will receive mentorship from renowned design leaders and funding of up to 3,000,000 yen (over $25,000 US) to create prototypes of their projects. The finalists represent the United States, China, Europe, Pakistan and Kenya and were selected from a record-setting group of 2,042 submissions from 79 countries. Now in its eighth year, the LEXUS DESIGN AWARD provides a unique platform for young creators to demonstrate and further develop their talents. The proposals were selected based on their expression of three key principles of the Lexus brand: Anticipate, Innovate, and Captivate, with an emphasis on design that leads to a better tomorrow.

LEXUS DESIGN AWARD 2020 Finalists

  • Bio.Scales, by Sutherlin Santo (USA)
    A modular, carbon sequestering air filtration system assembled from robotically 3D printed biopolymer scales.
  • Feltscape, by Théophile Peju & Salvatore Cicero (France, Italy / Based in United Kingdom)
    A breathing felt cloud which interacts with people and space to enhance well-being.
  • Flash Pak, by Yaokun Wu (China / Based in USA)
    A smart survival apparatus that protects young students and helps them stay together in flash floods.
  • Lick, by Irina Samoilova (Russia)
    A portable body cleaner for humans with a unique surface similar to a cat’s tongue.
  • Open Source Communities, by BellTower (Kenya)
    A project exploring the future of smart sustainable communities in developing countries using open-source home plans.
  • Pursewit, by Aqsa Ajmal (Pakistan)
    An accessible sewing machine that incorporates sewing skills to assist in income generation for the visually impaired.

According to technologist and LEXUS DESIGN AWARD 2020 judge John Maeda, “this year’s LEXUS DESIGN AWARD finalists speak to two main themes: consciousness and the environment, which are increasingly relevant as technological progress impacts our world. As design projects they go beyond just asking questions to provide concrete answers based on innovative reasoning and practiced opinions on engineering. Narrowing the massive list of entries down to the small set of representative works was not a simple task. But working with jurors like Jeanne Gang and Paola Antonelli made the task easy given their broad range of knowledge about transformative design projects. I offered my technology and business perspective to question both engineering and financial viability. In the end I think we found the right set of captivating projects to represent the themes of mind and body that are critical to our future.”

In January the six finalists traveled to New York City for a life-changing workshop experience, engaging in a dialogue with four acclaimed mentors: Joe Doucet, Bethan Gray, Philippe Malouin and Shohei Shigematsu, each offering their own distinctive wisdom and expertise. The workshop had taken place at INTERSECT BY LEXUS-NYC, the brand’s unique lifestyle space.

This workshop kicks off an ongoing interaction between finalists and mentors leading up to the judging session in Italy, during Milan Design Week*. In the context of this major event on the global design calendar, finalists will present their completed prototypes to the world and one will be selected by the esteemed judging panel of Paola Antonelli, Jeanne Gang, John Maeda, and Simon Humphries during the competition’s Grand Prix event.

ALSO READ: Lexus partners with Streetwear Designer to create Bespoke Tires

Bolloré Ports signs a concession agreement to manage the first port terminal dedicated to the automotive sector in Egypt

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Bolloré Ports signs a concession agreement to manage the first port terminal dedicated to the automotive sector in Egypt

On December 19, 2019, the consortium composed of Bolloré Ports, Toyota Tsusho Corporation and Yusen Kabushiki Kaisha signed a concession agreement with the General Authority for the Suez Canal Economic Zone with a view to building, equipping and managing a ro-ro terminal at Port Said in Egypt.

12261 agency

The consortium is committed to investing USD 150 million over the period to acquire the equipment and develop the infrastructure. It intends to create 400 direct jobs and 1,000 indirect jobs.

The terminal will provide the automotive industry with dedicated services, notably in the import, export and reshipment of cars to markets and ports in neighbouring countries. It will be equipped with a 600- metre dock and a 21-hectare storage park for receiving and delivering cars.

Once the works are completed in 2021, the consortium will be able to handle nearly 800,000 cars per year. Building on the synergies created, it aims to help Port Said to become the benchmark port in the eastern Mediterranean.

The consortium, the concessionary of the Port Said ro-ro terminal, is composed of the French company Bolloré Transport & Logistics, a leading operator in port terminals in Africa, the Japanese automotive company Toyota Tsusho Corporation, and the Japanese logistics operator Yusen Kabushiki Kaisha.

About Bolloré Ports

Bolloré Ports is a global player in port activity operating 21 concessions worldwide, 16 of which in Africa. The leading port infrastructure operator in Africa, Bolloré Ports continues to expand and invest in Africa, as well as in Asia, the Middle East and Latin America. The company’s expertise is focused in three key fields: port concessions, traditional cargo handling and shipping agency services. www.bollore-ports.com

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