SAAM completes terminal and logistics sale
Chile-based SAAM has completed the sale of its port terminals and logistics operations to Hapag-Lloyd for approximately US$995 million.
The sale will allow SAAM to focus on expanding its towage business.
“SAAM is beginning a new stage focused on two business areas where we see growth opportunities,” said Macario Valdés, chief executive of SAAM.
“We will strengthen our towage business to grow in new markets and become a world leader. We also want to expand Aerosan’s regional presence,” he added.
SAAM operates across the Americas, with over 210 vessels at more than 90 ports in 13 countries.
Aerosan provides air logistics services at eight airports in Chile, Colombia and Ecuador and has also expanded operations in Latin America through an acquisition plan.
“SAAM is consolidating its status as a solid, stable company with a robust capital structure, a unique operating model and a growth plan in attractive industries,” said Valdés.
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