Estonia, Markets and Companies, Mergers and take-overs, Port, Transport
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Friday, 29.03.2024, 09:01
Estonia: Kunda Nordic Tsement sells its Kunda port operations
The divestment is part of HeidelbergCement's strategy to
focus on its core business. The closing of the transaction is scheduled to take
place during the last quarter of the current year, Kunda Nordic said.
"The price of the transaction is confidential, once all
processes related to it are complete, we will definitely notify of it,"
Daimar Truija, member of the management board of Kunda Sadam AS, tolld. He
said that Baltic Maritime Logistics AS has always been interested in
developing toward logistics both in Estonia and in the Baltic countries
and the company believes this is a good opportunity for doing so.
Port of Kunda, constructed by Kunda Nordic Tsement AS in
1994 and amongst the seven Estonian ports handling more than mln tons of cargo
annually, has handled 1.4 up to 1.8 mln tons of solid bulk, liquid bulk and
general cargoes in the previous five years.
HeidelbergCement Group, founded in 1873 and operating in 60
countries with sales over 17.3 bn euros, is one of the leading building materials
manufacturers in the world.
Baltic Maritime Logistics Group, a concern founded in
2000 and operating in 10 countries with sales over 143 mln euros, is engaged in
the logistics sector.
Owners of BMLG through companies are Tarmo Nurmetalo
with 43.5%, Karin Nurmetalo and Ants Ratas with 21.75% each and
Andres Vahi with 12.99% of the company.