Noatum Group has acquired 100 percent ownership of APM Terminals Castellón in Spain for EUR10 million (USD11 million).
The agreement reached with APM Terminals has obtained all regulatory and stakeholder approvals and the change of ownership has taken place. A long-term agreement with the stevedoring union has also been secured.
Noatum Terminals’ investment in Castellón, where it has already been managing a multipurpose terminal since 2004, is part of its strategy to consolidate its position in Spain, and its combined capacity at Castellón now stands at 250,000 sq m. The acquisition allows Noatum Terminal Castellón to expand its operational capacity for bulk, general cargo, and container processing.
Joaquin Ramon Lestau, ceo of Noatum Terminals, said: “With this acquisition, we strengthen our position as a leading multipurpose port operator in the Western Mediterranean region.”
