NOL selling another ?non core? unit to CWT Ltd.

NOL selling another ônon coreö unit to CWT Ltd. Neptune Orient Lines has agreed to sell its 75 percent stake in Singapore warehousing services company Trident Districentre Pte Ltd. to CWT Ltd. for S$10.5 million ($6.8 million).
   TDPL is the second 'non-core' business unit NOL is selling to CWT Ltd., following the S$20 million ($13 million) agreement reached earlier this week for OCWS Logistics Pte Ltd., which provides container, trucking and warehousing services in Singapore.
   'The transaction is consistent with NOL's strategy to divest non-core businesses and focus on its core container transportation and high value added logistics services,' NOL said in a statement.
   The principal businesses of Singapore-listed CWT comprise warehousing, commodity logistics, collateral management services, chemical logistics, local transportation, project and niche value-added logistics, non-vessel-operating common carrier services, packaging solutions, and engineering and facilities management services.
   Completion of both sales is expected during February.