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Rail News: Intermodal

CSX World Terminals buys larger piece of Asia Container Terminals pie


CSX World Terminals L.L.C. recently purchased an additional
39.1 percent stake in Asia Container Terminals (ACT) from Jenwick Investments Ltd., a wholly owned subsidiary of Sun Hung Kai Properties Ltd.

CSX World Terminals now owns 68.6 percent of ACT, which operates one of Hong Kong's largest container terminals. CSX will manage the terminal under a long-term agreement.

Last month, Dubai Ports International agreed to acquire CSX's international terminal business and other related interests for $1.15 billion cash. CSX manages port operations in Asia, Europe, Australia and Latin America.

Contact Progressive Railroading editorial staff.

More News from 1/3/2005