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Tom
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CHARLOTTE, N.C., May 23 /PRNewswire/ -- CSX World Terminals, LLC, a leading global port terminal developer and operator today signed an agreement with H.L. Boulton & Co. to acquire 50 percent of Terminal Port Services, C.A., (TPS) of Puerto Cabello, Venezuela. H.L. Boulton & Co., an international marine logistics and transportation provider who currently wholly owns TPS, will retain 50 percent ownership of the company to be renamed CSX World Terminals Boulton Puerto Cabello. The terminal will be marketed under the name CSX World Terminals Puerto Cabello. CSX World Terminals will oversee the management of the container facility under the direction of Curtis Foltz who was recently appointed vice president of Latin America for CSX World Terminals.
(Photo: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028 )
"We are pleased to formalize our long-standing relationship with H.L. Boulton & Co.," said Robert Grassi, president and chief executive officer of CSX World Terminals. "Under the direction of H.L. Boulton & Co., TPS has clearly become a leader in container terminal operations in Venezuela with its modern terminal, sophisticated yard equipment, and terminal management systems. Our involvement will further enhance the current operations through investment and process improvement. We plan to create even greater value for carriers calling Puerto Cabello by leveraging our global expertise."
"Partnering with CSX World Terminals further advances H.L. Boulton's 175- year commitment to leading the marine transport and logistics industries in Venezuela," said Lukas Boulton, executive vice president of H.L. Boulton & Co. "Through this 50/50 joint venture, CSX World Terminals brings proven industry leadership and a worldwide perspective to the CSX World Terminals Puerto Cabello facility. This sound relationship will not only immediately impact our current operations, but will also lead to further development opportunities as we work together to build and evolve the marine transport and logistic industries in Venezuela."
TPS is currently ranked as the top terminal service provider in Venezuela with the highest level of marine productivity averaging 25 crane moves per hour. John Ballestero will continue as general manager of the 10.9-hectare terminal and stevedoring operation.
Today's announcement further promotes CSX World Terminals' committed growth strategy in Latin America. Construction is underway for the company's latest development on the Caucedo peninsula of the Dominican Republic. This state-of-the-art facility is scheduled to begin operations in 2003. SL Service, the parent of CSX World Terminals, also operates another Dominican Republic terminal in Rio Haina.
CSX World Terminals LLC, a wholly owned subsidiary of CSX Corporation (NYSE: CSX), is based in Charlotte, N.C., and is a leading provider of terminal solutions operating 17 global businesses in Asia, Australia, Europe, Latin America, and the United States. Its array of products and services includes terminal development, operations and management, terminal consulting, warehouse and depot management, equipment consulting, maintenance and repair, and terminal technology systems.
(Photo: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028 )
"We are pleased to formalize our long-standing relationship with H.L. Boulton & Co.," said Robert Grassi, president and chief executive officer of CSX World Terminals. "Under the direction of H.L. Boulton & Co., TPS has clearly become a leader in container terminal operations in Venezuela with its modern terminal, sophisticated yard equipment, and terminal management systems. Our involvement will further enhance the current operations through investment and process improvement. We plan to create even greater value for carriers calling Puerto Cabello by leveraging our global expertise."
"Partnering with CSX World Terminals further advances H.L. Boulton's 175- year commitment to leading the marine transport and logistics industries in Venezuela," said Lukas Boulton, executive vice president of H.L. Boulton & Co. "Through this 50/50 joint venture, CSX World Terminals brings proven industry leadership and a worldwide perspective to the CSX World Terminals Puerto Cabello facility. This sound relationship will not only immediately impact our current operations, but will also lead to further development opportunities as we work together to build and evolve the marine transport and logistic industries in Venezuela."
TPS is currently ranked as the top terminal service provider in Venezuela with the highest level of marine productivity averaging 25 crane moves per hour. John Ballestero will continue as general manager of the 10.9-hectare terminal and stevedoring operation.
Today's announcement further promotes CSX World Terminals' committed growth strategy in Latin America. Construction is underway for the company's latest development on the Caucedo peninsula of the Dominican Republic. This state-of-the-art facility is scheduled to begin operations in 2003. SL Service, the parent of CSX World Terminals, also operates another Dominican Republic terminal in Rio Haina.
CSX World Terminals LLC, a wholly owned subsidiary of CSX Corporation (NYSE: CSX), is based in Charlotte, N.C., and is a leading provider of terminal solutions operating 17 global businesses in Asia, Australia, Europe, Latin America, and the United States. Its array of products and services includes terminal development, operations and management, terminal consulting, warehouse and depot management, equipment consulting, maintenance and repair, and terminal technology systems.