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AD Ports’ logistics arm Noatum has acquired 100% of APM Terminals Castellón in Spain for EUR 10 mn, as it looks to consolidate operations in Spain, according to an ADX filing (pdf). The transaction obtained all regulatory approvals and is expected to be followed by immediate changes in APM’s ownership structure.
The acquisition will see Noatum expand its productive capacity for bulk, general cargo, and container processing in Spain, while continuing to uphold APM Terminals’ third-party services and agreements, the statement said.
Background: Noatum has already been managing a multipurpose terminal in Castellón since 2004, and recently upgraded the terminal.
The acquisition hands it control of the 250k sqm terminal at Castellón, with the two terminals having an annual capacity to handle 250k TEUs (20-foot equivalent units), making up 70% of container volume capacity at Castellón’s port. The terminals can handle 2 mn tonnes of bulk cargo and roll-on, roll-off cargo, and have direct rail links to the MENA region, the statement says.
Covering their bases: Noatum also said it has reached a long-term agreement with a stevedoring union, without naming which one, to ensure stable operations over the coming years, the statement added.
REMEMBER- AD Ports Group finalized its acquisition of Noatum back in July 2023. The 100% acquisition was valued at EUR 660 mn and was first revealed in a November 2022 announcement. The European Commission gave its clearance on the move earlier in 2023.
Noatum is investing big in Spain: The company also moved to acquire Spanish trucking company Sesé Auto Logistics in October 2023. The move is expected to be finalized in 1Q 2024.
