News

November 30, 2022

TICT says no plan to retrench workers over acquisition of MSC

By Godwin Oritse

THE Tin-Can Island Container Terminal (TICT) on Monday assured workers that it has no plans to embark on any retrenchment exercise despite the acquisition of the African Logistics business (BAL) of its parent company, Bolloré Group by Mediterranean Shipping Company (MSC).

In a meeting with leaders of the Maritime Workers Union of Nigeria (MWUN) on Monday, TICT Managing Director, Mr. Etienne Rocher, assured that the acquisition will not have any adverse effect on jobs and workers of the company.

“There will be no change in obligations on the part of the company towards employees and vice versa,” Mr. Rocher said.

He said that all obligations arising from existing contracts with the company will continue to be in force.

He said the services of TICT workers remain relevant to the company even after the acquisition.

Recall that MSC announced in April that it had reached an agreement to acquire 100% of the African logistic business of Paris-based Bolloré Group. The agreement followed exclusive negotiations between the two parties initiated in December 2021. 

MSC’s acquisition of Bolloré Africa Logistics comprises all of Bolloré Group’s transport and logistics activities in Africa, including shipping, logistics and terminals operations, as well as terminal operations in India, Haiti and in Timor-Leste.

Bolloré Africa Logistics is the biggest transport and logistics operator in Africa with nearly 21,000 employees in 49 countries, including 47 in Africa.

“The acquisition of Bolloré Africa Logistics reaffirms MSC Group’s longstanding commitment to invest in Africa and to strengthen supply chains across the continent, as well as connecting it to the rest of the world,” MSC had said in a statement.

Closing of the deal is subject to regulatory approval and is expected by the end of the first quarter of 2023 at the latest.