EDF Trading acquires coal terminal business in Port of Amsterdam
Tuesday, July 10th, 2007
EDF Trading, the subsidiary of EDF responsible for wholesale market activity, has acquired Amstuw BV, a coal terminal business located in the Port of Amsterdam, from the LBH Group.
Amstuv BV operates three coal terminals with a total capacity of up to 15 million tonnes: the Rietlanden terminal located in the Amerikahaven, the ACP terminal located in the Westhaven and the ACT terminal in the Afrikahaven.
Owning a terminal business at the centre of European coal imports will further strengthen EDF Tradingâ€™s position in the coal sector. It also builds on its existing network of assets including long-term purchase contracts with producers from all the major coal producing regions of the world, its fleet of dry-bulk vessels and its inland barge and railcar capacity.
â€œOur network of assets in the coal market enables us to provide a flexible, end to end service to our customers including a wide variety of coal specifications, storage, blending options and delivery terms. Our expertise in the financial markets also gives us the ability to offer long-term fixed-price contracts to producers and consumers of coal, â€œsaid John Rittenhouse, Managing Director at EDF Trading.
With an increasing amount of coal imported through the ARA hub (Port of Amsterdam, Rotterdam and Antwerp), EDF Trading sees significant growth opportunities for the terminal business in the North West European market where the phasing out of domestic coal production is being replaced with imported coal.
The management team at Amstuw BV will remain in place including Commercial Director Bert Lagendijk.
â€œThe acquisition of Amstuw is a good fit with our existing coal activities and we are excited about with the opportunity to enhance our service to customers. We also look forward to working with Bert Lagendijk who has a great deal of experience in the stevedoring sectorâ€, added Rittenhouse.
For further information, please contact: EDF Trading, Kerry Kennedy, Head of Communications
Tel: +44 (0) 20 7061 4232