Nautilus International has completed the acquisition of Suderman Contracting Stevedores and Suderman Terminals.
Galveston, Texas-based Suderman serves a range of cargo and cruise sectors, including dry bulk, project cargo, wind energy and the passenger cruise industry, and has operations in various Texas ports.
According to Nautilus chairman, president & CEO James Callahan, the integration of the Suderman companies supports the Nautilus growth platform and diversifies and strengthens its geographic base by entry into the Gulf region.
The integration process will begin immediately.
California-based Nautilus oversees various subsidiary companies focused on stevedoring, terminal operations, agency, logistics and risk management, including Metro Ports - a contract stevedoring and marine terminal operator specialising in dry and wet bulk materials, breakbulk cargo, forest products, wind energy, as well as other marine cargo.
Fred Green, President and Chief Executive Officer, departing after 34 years of service.
The Group delivered a profit of USD 1.2bn (USD 1.2bn) and a return on invested capital (ROIC) of 10.0% (11.7%) for Q1.
UPS today announced it has the necessary financing in place for its intended recommended public offer for TNT Express N.V.