AD Ports Group announced that Noatum Terminals, the terminal operating business of Noatum Group, has acquired 100% ownership of APM Terminals Castellón in Spain for a total consideration of €10 million.
The agreement signed with APM Terminals has received all regulatory and stakeholder approvals and the change of ownership is effective immediately. In parallel, a long-term agreement with the stevedores union was achieved, guaranteeing stability and high productivity in the coming years.
Noatum Terminals’ investment in Castellón is part of its strategy to strengthen its position in Spain, where it has already been managing multipurpose terminals since 2004. The acquisition followed various improvements carried out at Noatum Terminal Castellón, with the aim of modernizing and maintaining existing facilities and equipment.
The acquisition of APM Terminals brings Noatum’s total capacity in Castellon to 250,000 m .2 Its size and annual capacity is 250,000 TEU, which corresponds to approximately 70% of the container throughput of the Port of Castellón. In addition, the two terminals, which can handle 2 million tonnes of bulk cargo alongside RoRo, are connected via a direct rail link to the hinterland, serving the Mediterranean, Middle East and North Africa regions. This increases the competitiveness of the port. Gaining volume and serving various industrial sectors. It is also worth mentioning that the Castellón region is the world’s largest tile producer, with 80% of its production exported.
The acquisition will allow Noatum Terminal Castellón to expand its bulk cargo, general cargo and container processing operational capabilities while maintaining contracting with APM Terminal’s third-party services at this location.
Joaquin Ramon Lestau, CEO of AD Ports Group’s Noatum logistics cluster, Noatum Terminals, said: “With this acquisition, we strengthen our position as a leading multi-purpose port operator in the Western Mediterranean region. Noatum Terminals is committed to providing a dedicated service. We serve both existing and new customers in line with Noatum Group’s quality standards, while ensuring the smooth and efficient operation of our terminals into the future. We will make the necessary investments to ensure this happens.”
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