Contargo has agreed to buy APM Terminals’ intermodal terminal in Neuss, Germany, for an undisclosed sum.
The German logistics company said it expects to close on the acquisition, which is subject to “certain conditions,” in the fourth quarter of 2013.
The Neuss Intermodal Terminal, on the west bank of the river Rhine opposite the industrial city of Dusseldorf, handles around 100,000 containers per year and is connected by barge and rail to the ports of Rotterdam in the Netherlands and Antwerp in Belgium.
Contargo has agreed to buy APM Terminals’ intermodal terminal in Neuss, Germany, for an undisclosed sum.
The German logistics company said it expects to close on the acquisition, which is subject to “certain conditions,” in the fourth quarter of 2013.
The Neuss Intermodal Terminal, on the west bank of the river Rhine opposite the industrial city of Dusseldorf, handles around 100,000 containers per year and is connected by barge and rail to the ports of Rotterdam in the Netherlands and Antwerp in Belgium.
APM Terminals said the sale of the terminal, which was established in 2010, is part of a new hinterland strategy for its terminals in northwest Europe.
“Rather than investing in assets, APM Terminals will focus more on establishing partnerships to improve hinterland connectivity,” said Martin van Dongen, regional director inland services for A.P. Moller-Maersk’s port operating unit, in a written statement. “By means of further and intense cooperation in the supply chain, APM Terminals aims to improve terminal efficiency and service levels.”
Contargo, a subsidiary of Rhenus, a $4 billion-a-year global logistics group, said it plans to expand the terminal over the next few years to keep pace with growth in traffic in the Neuss-Dusseldorf region.
Contargo has 27 inland container terminals in Germany, France, Switzerland and the Czech Republic with an annual throughput of around 1.7 million 20-foot equivalent units. The company, which also operates its own inland barge and rail lines, has 800 employees and booked revenues of €400 million (about US$528.6 million) in 2012.
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