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Ports America to purchase 30% stake in terminal operator

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Through a strategic partnership with ‘K’ Line (Kawasaki Kisen Kaisha), Ports America announced it will purchase a 30% stake in International Transportation Service (ITS).

Ports America’s expertise and industry-leading technology will be utilised in ITS’ gate, yard and vessel operations.

To expand the container terminals, Ports America’s management team will apply its successful business development and market growth strategies.

Ports America president/CEO Michael Hassing said: “Ports America realises the significance of innovation and the need for continued capital improvement and expansion.”

The date of the transfer will occur after regulatory approvals, expected in late August 2014.

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