New APM Terminals Elizabeth and Brookfield joint venture

 APM Terminals and Brookfield Asset Management have announced the formation of a joint venture at APM Terminals’ Port Elizabeth, New Jersey facility, subject to the Port Authority of New York/New Jersey and regulatory approvals which are expected in the next couple of months.

The joint venture company, APM Terminals Elizabeth will be equally owned by Brookfield and APM Terminals. The current APM Terminals management team consisting of Brian Clark, Managing Director, and his Elizabeth management/supervisory team will joint venture’s Board of Directors comprising APM Terminals and Brookfield representatives.

Kim Fejfer, CEO of APM Terminals said, “we are entering into this partnership to strengthen our presence in the Port of New York/New Jersey. Brookfield (has) a substantial presence in the Port with its recent Port Authority partnership at the World Trade Centre West Concourse. Brookfield also (has) significant infrastructure holdings in a number of countries in Latin America and Europe where we operate terminals and inland facilities.”