BDP takes full ownership of German joint venture
BDP International, the Philadelphia-based global logistics and transportation management provider, has attained full ownership of its German joint venture, BDP International GmbH, after buying out Frankfurt-based Merlin Logistics’ stake. Financial details were not disclosed.
The joint venture was established in 2004 and will continue under the leadership of Alexander Ruf, managing director, who reports to Richard J. Bolte Jr., BDP’s president and chief executive officer.
“Given the importance of chemicals to the German economy and our firms’ respective strengths in chemical logistics, it was time to reinforce our position with a wholly owned presence,” said Frank P. Osusky, chief financial officer of parent company BDP. “As such, it also represents another vital step in positioning our infrastructure and service portfolio for growth in Central and Eastern Europe through highly selective acquisitions, joint ventures and affiliations.”