Grindrod – Freight Services has sold ChromTech to the management team

Grindrod Limited, through its freight services division, has sold ChromTech to its management team for US$10 million.

ChromTech is a fully integrated chrome solutions provider focused on UG2 chrome recovery plants. It offers value throughout the UG2 chrome recovery/production pipeline and also handles the intricate logistics of transporting ore to the client. The company ensures that its operations are legally compliant with South African legislation. ChromTech is also an integrated, ISO-certified company, guaranteeing clients an above-board, managed and audited service.

Grindrod, listed on the JSE Securities Exchange, is based in South Africa and is represented by subsidiaries, joint ventures and associated companies in 30 countries worldwide, employing more than 5,000 skilled and dedicated people. Gridrod's freight services division provides services for the integrated movement of dry-bulk, bulk liquid, containerized cargo and vehicles along specific import/export corridors. With a focus on these specific cargo types, the division provides road transportation, rail, port operations, terminals, intermodal solutions, warehousing, storage, stevedoring, seafreight, ships agency services, travel agency services and all facets of traditional logistics.

Oaklins' team in South Africa advised the seller in this transaction.