Grup Maritim TCB terminal in Barcelona
A.P. Moeller-Maersk A/S’s terminal unit said Tuesday it agreed to buy a Spanish rival to expand its port network by almost 20 percent.
APM Terminals will pay an undisclosed sum for Barcelona-based Grup Maritim TCB, thereby adding 11 container terminals to its existing network of 63, the company said in an e-mailed statement. The Spanish family-controlled company is the world’s 23rd largest port operator, according to the statement. APM Terminals ranks third.
Adding Grup Maritim TCB’ facilities in Colombia, Mexico, Guatemala, Brazil, Spain and Turkey will raise the Danish company’s volume capacity by 5 percent, to about 40.3 million standard-sized containers.