APMT said the Charleston business was seen as a non-core asset.
APM Terminals will sell its Charleston, South Carolina stevedoring business to SSA Cooper for an undisclosed amount.
“APM Terminals’ long term strategy is to optimize the company’s portfolio
and simplify business activities that are non-core assets,” the company said, adding the sale was “a strategic move that boosts the focus on the company’s core business.”
Spokesman Tom Boyd explained “in Charleston we had a small footprint of business activities – only performing stevedoring for container handling activities. Therefore, we opted to exit.”
Jack Craig, APM Terminals Senior Vice President said of the sale, “We are proud of the role Charleston has played in our company’s history. Our talented people, service capabilities and operational performance make it a perfect fit with SSA Cooper. Equally important, we have enjoyed the support of our customers and excellent relations with Jim Newsome and the South Carolina Ports Authority leadership through the years and Senator Larry Grooms, Chair of the Senate Transportation Committee.”
APM Terminals operates seven container terminals in the US in Elizabeth, N.J.; Jacksonville, Fla.; Miami, Fla.; Mobile, Ala.; Houston, Texas; Los Angeles, Calif.; and Tacoma, Wash.
SSA Cooper buys APM Terminals’ Charleston stevedoring unit
