“The UK and Ireland is a key market for WFS,” said Olivier Bijaoui, executive chairman, president and CEO of WFS. The 60% stake WFS purchased from BARC founders Bryan Bullman, Jim Dunwoody and Malcolm Jackson continues the expansion WFS began in 2001. Since then, says Bijaoui, WFS increased operations at London Heathrow to over 250,000 square feet and, in 2007 it established a presence at London's Gatwick and Stanstead airports.
“BARC is a well-established and profitable business with an experienced team of cargo professionals,” comments Bijaoui, adding that “the investment also extends our business relationship with British Airways World Cargo.”
BARC operates over 260,000 square feet of cargo handling facilities in Belfast, Birmingham, Bristol, Dublin, East Midlands, Glasgow, Leeds-Bradford, London Heathrow, Manchester, Norwich and Shannon. It provides cargo handling for British Airways World Cargo as well as other airlines, including American Airlines, Singapore Airlines, Northwest, Airlines, Air India and GB Airways. It handles 110,000 tonnes of cargo per year and generates revenues of £28 million ($55.8 million).
The remaining 40% of the shares in BARC will be held by British Airways World Cargo.