New partnership eyes to link Danube region with Turkey
The newly founded company has been called Rhenus Catoni Logistics.Rhenus Group, which hires 24,000 people around the world, and Turkish Catoni Group have established a joint venture called Rhenus Catoni Logistics.
The share capital for the new company is held equally by the two founding firms, a written statement released last week said. The aim of the cooperation arrangement was announced to link the Danube region in a better way with Turkey and its surrounding area in terms of logistics. The major focus of business will initially involve transporting bulk commodities and breaking bulk cargo. The Rhenus Group will contribute two of its own vessels to the joint venture.
“Turkey and its neighboring countries in the South Caucasus and Middle East area are increasingly moving closer to the European single market. The flows of goods associated with this, particularly involving raw materials and agricultural products, are increasingly finding their way to Western and Central Europe via the Black Sea and the river Danube,” said Patrick Schäffer, the managing director responsible for the Danube business activities at the Rhenus Group.
Catoni’s roots go back to the year 1846 and Cyprus. The company’s headquarters are now located in Istanbul and 10 other branches offer their services.