Container Terminal Renewal

RNS Number : 3728P

Ocean Wilsons Holdings Ld

16 November 2016

 

Ocean Wilsons Holdings Limited

Wilson Sons announces container terminal renewal

Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited ("Wilson Sons" or "Company"), a public held company traded on the BM&FBOVESPA under the ticker WSON33, hereby informs its shareholders that on 16 November 2016 its subsidiary, Tecon Salvador S/A, signed the Second Amendment to the Lease Agreement No. 012/2000, with the Brazilian Federal Government through the Ministry of Transport, Ports and Civil Aviation. The amendment includes the approval of the National Agency for Waterway Transportation (ANTAQ) and the State of Bahia Dockers (Companhia Docas do Estado de Bahia - CODEBA).

Among other provisions, the Second Amendment extends the term of the concession until 13 March 2050 and the Company is obligated to complete minimum expansion and maintenance capital expenditure through to the end of the concession.  Minimum expansion investments are budgeted at approximately R$398 million (three hundred and ninety eight million Brazilian Reais, using December 2013 base date values (approximately US$117 million at current exchange rates). These investments will be completed in phases during the concession to ensure the terminal reaches a capacity of 925,000 TEUs (twenty-foot equivalent units) per year.

Enquiries 

Company Contact Keith Middleton	[phone]
Media David Haggie Haggie Partners LLP	[phone]
Cantor Fitzgerald Europe David Foreman, Will Goode (Corporate Finance)	[phone]

 

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