Euroports, the pan-European multipurpose cargo stevedore, strengthened its position in the German market by buying out its partner in a break bulk terminal in the Baltic port of Rostock.
Luxembourg-based Euroports didn’t say how much it paid for the 50 percent stake in SHRU Holding, which handles around 13 million tons of bulk and break bulk cargoes annually.
The deal will enable Euroports to “further develop its already substantial activities in the European ports sector and in the German market,” the company said.
Euroports handles around 61 million tons of cargo annually, mostly dry bulk and general cargo, at 21 terminals in Finland, Belgium, Germany, Spain, Italy and Bulgaria. It also has two terminals in China and is present in Brazil and the United Arab Emirates.
The company, which is owned by a consortium of institutional investors, has annual revenue of $780 million and employs 2,410 staff.