“RUT, with a motivated workforce and a progressive management team, holds tremendous potential for expansion in the Baltic and we are confident that RUT will add significant strategic value to Portek's long term growth,” said Takao Omori, ceo of Portek, owned by Japan-based Mitsui & Co.
RUT will gain from Portek's port equipment engineering experience and close links with shipping lines and cargo owners. Portek, on the other hand, will be able to develop its reach into the container, wood and frozen food handling markets in and around the Baltic Sea.
RUT is presently the fifth largest port operator by volume of cargo in Riga Free port, moving more than 2.5m tonnes of cargo annually. The company serves both transit and export of general and bulk cargoes.
Container volumes have grown with 2012 annual throughput at 77,000 teu.
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