The Noatum Group’s terminal operations business, Noatum Terminals, has taken full ownership of APM Terminals Castellón in Spain as it expands its operations in the province.
The €10m deal ($10.9m) is part of Noatum’s strategy to consolidate its position in Spain and build upon its existing multipurpose terminal in Castellón, which has recently seen a number of upgrades to its facilities.
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.
“Noatum Terminals is committed to providing dedicated service, in line with the Noatum Group’s quality standards, to both existing and new customers, while making the necessary investments for the terminal’s operations to run smoothly and efficiently well into the future.”
The acquisition will bring Noatum’s handling capacity at the Port of Castellón to 250,000 TEUs across 250,000m2, representing 70% of the port’s overall capacity, and the ability to handle two million tonnes of bulk cargo.
Noatum, which is part of the AD Ports Group’s Logistic Cluster, also highlighted the two terminals’ connections to the hinterland through direct rail links and the province’s prominence in tile production, which exports 80% of it products.
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The company’s acquisition of the APM Terminals operation has already obtained the relevant regulatory approvals and will come into immediate effect, while a long-term agreement with the stevedoring union has also been completed to ensure a stable transition.
As a member of AD Ports Group, Noatum’s acquisition further strengthens the Abu Dhabi-based company’s prominence in the ports and logistics industry, building on the group’s acquisitions in 2023 including a $200m vessel acquisition and its expansion into Kazakhstan’s oil operations.