Grindrod: NWK stake to bulk up supply chain

Grindrod had acquired a 20 percent shareholding in NWK, an operating company that trades in agricultural and agri-related products, resources and services, for an undisclosed amount, the listed freight and logistics group said on Friday. NWK’s business interests include crop farming and the storage, trading and financing of grain and related products. Alan Olivier, Grindrod’s chief executive, said the transaction was of great significance as part of implementing its strategy to add critical mass and depth to its agricultural logistics supply chain. Danie Marais, NWK’s managing director, said NWK’s partnerships with investors like Grindrod ultimately looked to unlock vast growth through a common platform, which would spark a new era of long-term and sustainable growth in the agricultural space. Grindrod dropped 0.20 percent to R24.55 on the JSE on Friday. – Roy Cokayne