Philippine firm acquires Indonesian port operator Makassar

05/22 11:25:59 AM

 

MANILA (AFP) - Philippine port operator International Container Terminal Services said Monday it has acquired Indonesian counterpart PT Makassar Terminal Services for 5.6 million dollars.

 

The amount gives the Manila-based company, known by its initials ICTSI, a 95 percent stake in PT Makassar, which operates the terminal as well as cargo handling services at Makassar port in the Indonesian island of Sulawesi.

 

"ICTSI considers Makassar as a young container port with big potential for growth. This company looks forward to participating in more projects in Indonesia," a company statement said.

 

The firm was acquired from Portek Systems Equipment and PT Pelarayan Neusantara Maratus, which retained a five percent stake in PT Makassar.

 

The port reported cargo volume throughput of 239,522 twenty-foot equivalent (TEU) units in 2005.

 

http://www.philstar.com/philstar/NEWS_FLASH052220067789_5.htm