Latest news from Heavy Lift & Project Forwarding International Magazine

Canadians sail in for PD Ports

October 9 - PD Ports is to be bought by a Canadian asset management company as part of an AUD1.5bn-plus recapitalisation by Babcock & Brown Infrastructure (BBI), which has been under pressure to sell assets to reduce its debt.

Under the terms of the recapitalisation, - which is subject to shareholder agreement - Toronto-based Brookfield Asset Management will buy 100 percent of BBI's interest in PD Ports and repay GBP100m on behalf of the Teesport operator. 

In local media PD Ports is quoted as saying that it would welcome any deal that secured its long-term future, which will include increasing container capacity and gaining a foothold in the wind-farm market. Group development director Martyn Pellew is reported to have said: "It would be useful and helpful to have a more secure future. Talks about a potential sale of the business has had an unsettling effect on existing customers and prospects for business."

Earlier this year, BBI sold a 40 percent stake in Luxembourg-based Euroports. The proceeds from the recapitalisation will be used to repay BBI's debt and simplify its capital structure and BBI said that it will change its name to Prime Infrastructure.

Heavy Lift | News

Collett delivers footbridge thumbnail image

Collett delivers footbridge

July 19 - Collett & Sons has delivered six over-dimensional bridge components to Worcester in the UK.
Views: 390
ITI and FHS to open Florida training centre thumbnail image

ITI and FHS to open Florida training centre

July 19 - Florida Handling Systems (FHS), a Mazzella Company, and Industrial Training International (ITI) have confirmed that they will develop a training centre in Bartow, Florida.
Views: 495

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