Associated British Ports has completed bought Newport-based WE Dowds (Shipping) Ltd for an undisclosed sum.

Established in 1960, Dowds is among the UK’s leading family-owned port operations businesses.

It operates 10 separate warehouses with a combined area of more than 50,000 sq m based at ABP Newport.

James Cooper, chief executive of ABP, said: “ABP's acquisition of WE Dowds follows our long-established partnership with the company at the Port of Newport.

"The deal builds on Dowds' excellent track record serving the UK steel market, enabling the business to continue to grow by providing first class customer service.

"As such, the transaction will also help secure further growth and success for the Port of Newport for many years to come."

Matthew Kennerley, ABP director, South Wales, said: “We’ve been working closely with WE Dowds for many years and the business is an important part of the Port of Newport’s success.

"We’re looking forward to welcoming our new colleagues and achieving even greater success in the future."

Charles Dowds, managing director of WE Dowds, said: "We have been pleased to work with ABP and its predecessor for more than 50 years. Throughout that time ABP has demonstrated a strong commitment to the success of Dowds and the Port of Newport.

"The £4 million investment in the reconstruction of the Shed 5 facility is the most recent example.

“ABP's acquisition of Dowds demonstrates that their commitment to investment continues. We look forward to our future within the ABP family, which gives us an even more powerful platform to drive further growth."