SAAM materialized entry to second most important port in Costa Rica
The “Instituto Costarricense de Puertos del Pacífico” (INCOP) (Costarrican Institute of Pacific Ports), “Comisión para Promover la Competencia” (Commission to Promote Competition) and “Contraloría General de la República” (Comptrollership of the Republic) of the country approved the purchase of 51% of Puerto Caldera.
With this, SAAM accounts its first terminal in Central America, totaling 12 terminals in its business portfolio.
February 8, 2017. SAAM, multinational Chilean company providing port, towage and logistics services in America, materialized the acquisition of the two concessions in Puerto Caldera, the major terminal of Costa Rica’s Pacific Coast and the second in terms of cargo transferred in the country. This took place after having received the approval of local regulatory authorities.
With the materialization of this milestone, SAAM now controls 51% of Sociedad Portuaria de Caldera (SPC) and of Sociedad Portuaria Granelera de Caldera (SPGC), whose transferred annual volume totals 5.5 million tons. The operation involved a disbursement by SAAM of US$48.5 million for the mentioned percentage of the share capital of both companies, which jointly reported revenues for US$55.5 million in 2016.
“At SAAM, we are always in search of new business opportunities that will enable us to continue consolidating our leadership position in America. The acquisition of 51% of Puerto Caldera allows us to grow in a country where we have had good results, through a well-managed company to which we can add value, and at the same time, allows us to join efforts with knowledgeable and experienced partners”, expressed SAAM’s CEO, Macario Valdés.
The company includes, apart from SAAM’s majority position, Costa Rican companies Saret (21%) and Grain Logistics (19%), as well as Colombian “Grupo Empresarial del Pacífico” (9%).
Having closed this process, SAAM continues advancing in its diversification and internationalization strategy and strengthens as one of the leading port operators in Latin America.
About Puerto Caldera
In 2016, Puerto Caldera transferred more than 5.5 million tons. The main loads were containers (268 thousand TEUs in 2016) and bulk load, such as cereals, fertilizers, raw materials and flours.
The port is located in a strategic location in Costa Rica, given its proximity and good connectivity with the city of San José.
Multinational company founded in Chile, serving foreign trade for 55 years. At present, it is the leader in the provision of port, towage and logistics services, with operations in 15 countries in North, Central and South America, and more than 10 thousand employees.
It has strategic partners in the various markets and business divisions in which it participates, among which are the Romero Group from Peru, SSA Marine (a company based in the USA, with a significant presence in the global port industry), American Airlines and Royal Boskalis (global provider of maritime services.)