Fast Terminal International and Horizon Terminal Services today announced the completion of the transaction whereby Horizon Terminals through its parent company acquires 50% of the shares
in Fast Terminal International S.A. of Panama.
Fast Terminals operates vehicle terminals and processing centers on the Colombian Atlantic and Pacific coasts, including distribution and vehicle services at manufacturing plants in Colombia.
The Company has been operating since 2011 and is annually handling about 140.000 vehicles in the Colombian market, providing stevedoring, terminal operations, equipment handling, vehicle processing, distribution and logistics management services to the Automotive Industry. The Santa Marta terminal was first in operation, a Free Trade Zone terminal and vehicle processing center was established shortly after, adjacent to the port of Santa Marta. The company also operates inland distribution vehicle terminals and processing centers in Envigado and Caldas.
Jose Maria Sola Freixa, President of Fast Terminal International says: “Our success is part of the success of our customers, who have found in our business model the right answers to their requirements in logistics and sales. Having a partner as Horizon Terminals strengthens us and enables us to look at other markets and segments within the supply chain. The technological development of our company and the ongoing implementation of new solutions encourages us committing ourselves to the future and new opportunities.
Per Folkesson, President of Horizon Terminal Services says: ‘’This partnership is in line with the ambition of our company to grow our global footprint, especially in an important and prospective market such as Colombia and its proximity to Mexico which is now developing in to a major global automotive hub. Fast Terminals shares a similar vision of the automotive supply chain as we do and have shown dedication and entrepreneurial spirit in developing the company in Colombia and now beyond. With our experience and knowledge, we believe we are well placed to jointly develop the company’s strategy in Central & South America and the Caribbean becoming a leader in automotive supply chain services and capabilities.’’