AD Ports Group said that Noatum Terminals, the terminals operations business of Noatum Group, has acquired 100 per cent ownership of APM Terminals Castellón in Spain, for a total purchase consideration of €10 million. The acquisition will strengthen Noatum Terminal’s position as a major multipurpose port operator in the Western Mediterranean. 

An agreement has been reached with APM Terminals, and it has received all the necessary regulatory and stakeholder approvals. The change of ownership will take place immediately. Additionally, a long-term agreement with the stevedoring union has been achieved, which will ensure stability and high productivity in the coming years.

Noatum Terminals has invested in Castellón as part of its strategy to strengthen its position in Spain. The company has been managing a multipurpose terminal in the area since 2004 and has implemented several improvements aimed at modernising and maintaining existing facilities and equipment in Noatum Terminal Castellón.

With the acquisition of APM Terminals, Noatum’s combined capacity at Castellón is 250,000 square meters in size and an annual capacity to handle 250,000 TEUs, representing around 70 per cent of the container volume capacity of the Port of Castellón.

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Furthermore, the two terminals, which can also handle two million tonnes of bulk cargo alongside RoRo, are connected via direct rail links to the hinterland and serve the Mediterranean, Middle East, and North Africa regions – thereby positioning the port to be more competitive in capturing volumes and serving various industry sectors. It is also worth mentioning that the Castellón region holds the world’s largest tile production, with 80 per cent of its production destined for export.

The acquisition allows Noatum Terminal Castellón to expand its operational capacity for bulk, general cargo, and container processing while maintaining APM Terminals’ third-party services and agreements at this location.

Joaquin Ramon Lestau, CEO of Noatum Terminals, Noatum, Logistics Cluster, AD Ports Group, 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.”