Regulatory News:
Getlink (Paris:GET) announces the acquisition of ChannelPorts Ltd, one of the leading British customs intermediaries. Established in 1974 and based in Folkestone, Kent, ChannelPorts has 44 employees and a revenue in 2023 of around £10M.
This acquisition lies at the heart of transportation issues and the need to simplify cross-Channel trade. Getlink thus offers a unique range of services and support to facilitate the exchanges of goods between Europe and the United Kingdom which is fully in line with the Group's Low Carbon High Simplicity strategy.
ChannelPorts carries out the customs formalities that have become compulsory since Brexit on behalf of its hauliers, logistics and forwarding customers. The company relies in particular on a digital platform CustomsPro which simplifies data exchanges and improves the productivity of operations.
These services (import, export and transit formalities) will be integrated into Sherpass, the Group's digital platform that makes border crossings easier for its transport and logistics customers.
In this way, Getlink is consolidating a strong position on the still-fragmented market for customs services between Europe and the United Kingdom.
In addition to its customs clearance service activity, ChannelPorts owns a secure truck park facility and service area "Stop24" located on the M20 motorway in Folkestone, less than 10 kilometres from the entrance to the Channel Tunnel. "Stop24" completes the range of secure solutions for truck drivers already available on the French side by Eurotunnel's Le Truck Village.
Yann Leriche, CEO of Getlink, said: "Administrative procedures involved in crossing the border post-Brexit have made the business of cross-Channel hauliers more complex. Our aim is to accompany our freight customers by developing a comprehensive range of services to help them with customs clearance. The acquisition of ChannelPorts strengthens the Group's portfolio of smart border solutions. We are delighted to welcome the ChannelPorts teams who over the past years have proved their ability to offer customers simple and high value-added services."
About Getlink
Getlink SE (Euronext Paris: GET), through its subsidiary Eurotunnel, is the concession holder until 2086 for the Channel Tunnel infrastructure and operates Truck Shuttles and Passenger Shuttles (cars and coaches) between Folkestone (UK) and Calais (France). Since 31 December 2020 Eurotunnel has been developing the smart border to ensure that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since it opened in 1994, close to 500 million people and more than 102 million vehicles have travelled through the Channel Tunnel. This unique land link, which carries 25% of trade between the Continent and the United Kingdom, has become a vital link, reinforced by the ElecLink electricity interconnector installed in the Tunnel, which helps to balance energy needs between France and the United Kingdom. Getlink completes its sustainable mobility services with its rail freight subsidiary Europorte. Committed to "low-carbon" services that control their impact on the environment (through its activities, the Group avoids the equivalent of 1.9 million tonnes of CO2 per year), Getlink has made the place of people, nature and territories a central concern.
https://www.getlinkgroup.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240411047266/en/
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