Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 28, 2018updated 28 Sep 2021 11:04am

HHLA to expand into Estonia with Transiidikeskuse acquisition

Germany-based Hamburger Hafen und Logistik (HHLA) has agreed to acquire Transiidikeskuse, which operates a multipurpose terminal for breakbulk, bulk and RoRo handling in Estonia.

Germany-based Hamburger Hafen und Logistik (HHLA) has agreed to acquire Transiidikeskuse, which operates a multipurpose terminal for breakbulk, bulk and RoRo handling in Estonia.

Once the transaction is closed, the acquired entity, located at the Port of Muuga, will operate as a subsidiary, which will be allocated contractually and organisationally to HHLA International.

HHLA executive board chairwoman Angela Titzrath said: “Estonia is one of the fastest-growing economies in Europe and a pioneer when it comes to digitisation.

“We are therefore pleased to be integrating Transiidikeskuse – already a profitable and high-performing company – into the HHLA family.

“The successful conclusion of this contract shows that we are doing just that.

“The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’.”

“The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’.

“As Hanseatic cities, Hamburg and Tallinn share a long history to which HHLA is now adding a new chapter. At the same time, we will continue to enhance the Port of Hamburg by investing in facilities and technology.”

The Port of Muuga is the main port in Estonia and a significant maritime location in the Baltic region.

At present, the container terminal operated by Transiidikeskuse is capable of handling about 300,000 twenty-foot equivalent units (TEUs), which can be increased to approximately 800,000 TEUs.

The transaction, which has already been approved by HHLA’s supervisory board, is scheduled to be completed during the second quarter of this year, subject to various conditions.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology