APM Terminals (APMT) has signed an agreement to acquire the remaining 40% of the existing Aarhus facility in Denmark from its joint venture (JV) partner Aarhus Service.
The Aarhus facility is located on the Jutland Peninsula in Denmark’s Port of Aarhus.
APMT said that the deal will give it complete ownership of the facility. The purchase price has not been disclosed.
APM Terminals vice-president and Port Investments head Joe Nicklaus Nielsen said: "This acquisition reflects our confidence in the Danish market and our goal to expand our Scandinavia profile."
APMT Aarhus has a depth of 15m, four super post-Panamax cranes and three post-Panamax cranes and has the capacity to accommodate ultra-large container ships (ULCS) and feeder vessels.
The existing business was created in August 2010, when APM Terminals Aarhus and Cargo Service, a subsidiary to Aarhus Service, combined their adjacent facilities in a 60/40 JV.
APMT is currently the majority shareholder in the JV, which is now operating as APM Terminals-Aarhus.
Aarhus Service chairman Søren Halsted said: "After a successful coownership of APM Terminals – Aarhus, it is pleasing for us to sell our shares to our business partner.
"This is the last part in the divestment of our port activities, and the sale marks the end to the Lehmann family’s involvement in the Danish transport industry, an involvement dating back to 1900."
In a separate announcement, APM Terminals Global Terminal Network is partnering with supply chain partners across the portfolio to ensure implementation of Solas weight certification requirements for export containers.
APM Terminals provides services including VGM data management, VGM verification and VGM generation.
Image: The Aarhus facility is located on the Jutland Peninsula in Denmark. Photo: courtesy of APM Terminals.