SAAM, a multinational company providing port services and logistics tugs, has signed, through its subsidiary SAAM ports – an agreement to acquire control of two concessions of Puerto Caldera, the largest terminal in the Pacific coast of Costa Rica and the second in terms of cargo handled in that country.
To materialise this operation, SAAM will control 51% of the Caldera Port Company (SPC) and the Port Society of Caldera Granelera (SPGC).
The Chilean company will spend US$48.5 million for that percentage of the share capital of both companies, which together recorded revenues of $46.6 million in 2015.
Macario Valdes, CEO of SAAM, said: “This investment reflects very well the growth strategy we are deploying in the region, and is a well-managed company that can add value. It also allows us to join forces with partners who have knowledge and experience in the local market.”
With this acquisition SAAM continues to advance its strategy of diversification and internationalisation and has become one of the leading operators in Latin American ports, adding Puerto Caldera at 10 terminals already operating in five countries of the region plus one in Florida, US.
Fact File: SAAM is a multinational company that was founded in Chile 54 years ago and is a leader in providing port services, tugs and logistics, operations and more than 10,000 workers in 15 countries in North, Central and South America. It has strategic partners in different markets and business divisions in which it participates, among which are the Romero Group Peru, SSA Marine, American Airlines and Royal Boskalis (global provider maritime services).