Portek acquires RUT

Both parties will benefit, with RUT gaining from Portek’s port equipment engineering experience and its close links with shipping lines and cargo owners, while through the new business, Portek will be able to develop its reach into the container, wood and frozen food handling markets in and around the Baltic Sea.

The existing RUT management team will remain and be joined by new managers from Portek for the next phase of the terminal’s business development.

RUT is currently the fifth largest port operator by cargo volume in Riga Free Port, handling more than 2.5m tonnes annually, serving both transit and export of general and bulk cargoes.  It is also a leading player in the handling of wood products and frozen food, while container volumes have grown with annual throughput of 77,000 teu in 2012.