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CSX sells stake in Finnish terminal

CSX World Terminals, LLC, global port terminal developer and operator, announced in December the sale of its minority interest in Hamina Multimodal Terminals (HMT) in Hamina, Finland, to the Port of Hamina (POH).

Since HMT's inception in 1999, the modern facility has become one of the most productive terminals in the Baltic, consistently achieving more than 30 moves per crane hour over the single berth.

"Our original commitment was to build a very customer-focused, efficient operation at HMT. We accomplished that goal and now are turning over the reins to the Port of Hamina," said Arno Dimmling, COO for CSX World Terminals.

The acquisition of HMT supports the Port of Hamina's strategy of providing competitive, quality services for the customer. In this tradition, the same skilled labor and asset base will remain at the facility, continuing HMT's reputation for excellent service. Similarly, POH continues to renew its commitment to the port through on-going investment in value-added operations.

The sale of HMT is part of CSX World Terminals' strategy to align its assets to best serve the customer. CSXWT is actively seeking in Europe and worldwide additional growth opportunities involving investing and management of marine terminals and related businesses. The company's most recent projects include development of a state-of-the-art marine terminal in Caucedo, Dominican Republic, acquisition of a terminal operation in Puerto Cabello, Venezuela, and winning the O& M operating contract for the new terminal project in Pusan, Korea.

CSX World Terminals LLC is a wholly owned subsidiary of CSX Corporation, based in Charlotte, North Carolina in the US. It is a provider of terminal solutions operating 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.