New owners back Montecon expansion

Schandy (which previous held a 27% stake in Montecon) is a Uruguayan company with a 60-year history and a significant presence in the region’s ports, logistics and shipping sectors. It is involved in container, general and bulk cargo handling and in logistics and transport, in addition to related businesses.

Ultramar is a large Chilean group of companies owned by the von Appen family, with an important presence in shipping, transport, logistics and container terminals. It also has interests in other specialised port terminals on the South American West Coast, as well as in other activities in Argentina and Brazil.

Eduardo Zabalza, Montecon’s general manager, commented: “Montecon’s new shareholder structure grants us an outstanding position and very important backing for the development and growth of our operations in the Port of Montevideo. This is further enhanced by the strong position and the scope of the owning groups, as well as their commitment to this region and this business. The project for a new container terminal presented to the authorities by Montecon in December 2006 is a first priority of the new owners.”