The public takeover offer will be subject to a minimum acceptance threshold of 50% plus one share of Covestro's capital
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The 450,000 square-foot state-of-the-art facility, known as the Middle East Distribution Centre, will strengthen Cat Logistics’ primary after-market parts support network in the Middle East and Africa region.
A brief ceremony to mark the occasion at the site of the warehouse complex was attended by senior officials from Economic Zones World and Caterpillar, including Ibrahim Mohammed Al Janahi, Deputy Chief Executive Officer, Jafza and Chief Commercial Officer, and Barb Hodel, Director of Cat Distribution Services.
Between 100 to 120 people will be employed at the Middle East Distribution Centre, which is being developed as part of an ongoing plan expand and enhance the Cat Parts distribution network in Europe, Africa and the Middle East (EAME). Once operational, it will increase total warehouse capacity of the EAME network.
“The new Middle East Distribution Center is an important part of Caterpillar’s overall plan to develop the global Cat Parts distribution network further and get parts to dealers and customers faster,” said Steve Larson, Vice-President of Caterpillar Inc., Chairman and President of Caterpillar Logistics Services, Inc.
“We are very pleased to get construction of this new facility underway in Jafza, which we believe is ideally located for our business. It will improve parts availability in the region, contributing to high levels of machine uptime, which is critically important to our customers.”
“There can be no greater testimony than when a leading industrial manufacturer establishes a global service parts centre with you to strengthen their presence in the region,” said Ibrahim Mohammed Al Janahi, Deputy CEO, Jafza and Chief Commercial Officer.
“Caterpillar Logistics has reinforced their vision and trust in us and Dubai as the region’s premier business and logistics hub. We congratulate and assure them of our full support and extend our best wishes for their further success and growth in the region.”
Cat Logistics launched its global expansion plan in 2006 and since then has added critical distribution capacity to its operations in China, Russia, Germany and the United States. —business@khaleejtimes.com
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