Ports of Auckland has today acquired Netlogix's 50% shareholding of Nexus Logistics and its 100% subsidiary CONLINXX.

The acquisition supports the ongoing development of POAL's national supply chain network offering full logistics services based around the Auckland sea port and POAL's North Island freight hubs. The move is another step towards POAL's long-term goal of creating a national supply chain network, in partnership with other New Zealand ports.

POAL's General Manager Supply Chain, Reinhold Goeschl, said "We are grateful to Netlogix for working alongside us as we have developed our capability in this area. We are now at a point where we can take Nexus forward on our own while continuing to work in partnership with Netlogix to serve our existing joint customers and develop future opportunities."

"We are very confident of Nexus Logistics' and CONLINXX's future," he added.

The change in shareholding will enable Netlogix and POAL to individually drive their own business strategies and continue working closely together under a strategic alliance.

Netlogix CEO, Chin Abeywickrama, said "This change in ownership allows both POAL and Netlogix to accelerate the investment and growth in their targeted supply chain strategies whilst continuing to collaborate through the above mentioned strategic alliance."

The acquisition will have no impact on Nexus and CONLINXX staff. The Nexus Board is looking for a new CEO and an appointment is expected to be made in the next few weeks.

Nexus Logistics is what is known as a '4PL' – a company which helps businesses use existing freight networks to move freight more efficiently. Nexus finds ways to reduce waste in the freight supply chain – and thus save cost – through technology and innovation.

CONLINXX is a '3PL' – a company which provides freight handling services such as trucking services, rail handling and freight hub operations. CONLINXX manages Ports of Auckland's South Auckland Freight Hub at Wiri, and could operate the company's Waikato Freight Hub, currently under development.

ENDS

For further information contact:

Matt Ball

Head of Communications

P: +649 348 5262

M: +6421 495 645

E: [email protected]