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Associated Terminals Announces Strategic Acquisition of St. James Stevedoring Company - Wednesday, November 12, 2014

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Reserve, LA, Nov. 12, 2014/Business Wire - Associated Terminals is pleased to announce that it has reached an agreement to acquire the assets of St. James Stevedoring Company ("SJS”). The combined company will create the largest and most diverse stevedoring and terminal services provider operating on the Lower Mississippi River. Transaction highlights include:

  • Combined fleet of 14 high capacity Gottwald crane barges
  • 20 deep draft berths capable of facilitating ocean vessel transloading
  • Operating locations from mile 55 AHP to mile 228 AHP on the Lower Mississippi River
  • Multiple dockside and in-plant service locations along the Gulf Coast in Louisiana and Texas
  • SJS senior management to join the Associated team
  • SJS proprietary technology to be deployed throughout Associated’s operating footprint
  • Strategic alliance established between Associated Terminals and St. James Technologies
  • Transaction is anticipated to close during the fourth quarter of 2014

Associated Terminals and St. James Stevedoring have shared an unmatched commitment to customer service, capital investment and continuous improvement through significant capital expenditures and utilization of innovative new technology. The combined company will continue this commitment to offer its customers the most efficient cargo transfer while minimizing time in port by leveraging the combined enterprise’s high capacity equipment, technology and berthing locations. Customers working with Associated Terminals will have additional locations to create a logistical and economic advantage.

"We are excited to work with the SJS team and their customers. We know many of them very well and the transition will be seamless for all. Our organizations have shared common philosophies that focused on delivering premier customer service, driving a culture of safety, and creating fulfilling careers for our team members. We look forward to building upon this foundation to provide our combined customer base with unmatched service, flexibility and operating capabilities,” stated Todd Fuller, President of Associated Terminals.

"The Associated team has built an impressive operating footprint that provides their customers with a number of options for their cargo movements. Bringing together St. James’ focus on technology and innovation and Associated’s strong geographic and operating history will create a company with a unique set of services and capabilities never available before to cargo interests on the Lower Mississippi River. We are eager to join the Associated team and look forward to executing the organization’s strategic goals as we begin to work together as a combined entity,” stated Paul Morton, President of St. James Stevedoring Company.

"We are pleased to add the SJS equipment, personnel and technology to Associated. St. James Stevedoring is truly an innovative company being the first to invest in cranes from Gottwald Port Technology as the future of the midstream stevedoring business. SJS also has enhanced the capacity of their equipment through sophisticated technology which we feel will become the industry standard. This acquisition will create efficiencies that will benefit our present and future customers,” stated Associated Terminals Director and owner, David Fennelly.

American River Transportation Co., a subsidiary of Archer Daniels Midland Company, and its 50% interest in St. James Stevedoring Partners LLC, will not be involved in the transaction.

Associated Terminals is a cargo handling and logistical solutions company operating terminal facilities on the Lower Mississippi River. The company provides high quality, customized services, including agricultural commodity exports, in-plant services, midstream operations, and terminal port operations, for both the import and export of commodities.

St. James Stevedoring is a mid-stream stevedoring company and in-plant service provider operating on the Lower Mississippi River. The company is an innovator of integrating technology into stevedoring and terminal operations.

For further information or inquiries:
Kevin Tarleton,
Chief Financial Officer
985.233.8500
kevin@associatedterminals.com

 

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