Canada-based Logistec has expanded its network of terminals with the acquisition of Gulf Stream Marine, a cargo handling and stevedoring specialist in the US Gulf Coast region.
Logistec says the acquisition will enable it to establish a stronghold in the US Gulf, while representing a major expansion of its network of terminals in the USA.
With Gulf Stream Marine's ten terminals in five ports, Logistec's cargo handling activities now cover 58 terminals in 35 ports in North America.
Logistec acquired 100 percent of the shares of Gulf Stream Marine for USD65.7 million, subject to adjustments.
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