GES Completes Sale of Rotterdam Terminal to Tepsa
Global Energy Storage Group (GES) has successfully finalized the sale of its terminal located in the Port of Rotterdam to French-based company Tepsa. The terminal, which boasts 212,000 m3 of tank storage and approximately 18 hectares of development land in the Europoort area, has been acquired by Tepsa, a prominent European bulk liquid and gas storage operator.
This transaction signifies a significant milestone for GES as it shifts its focus towards expanding its presence in the rapidly growing Asian market, particularly emphasizing its strategic terminal at Port Klang in Malaysia. While the financial details of the deal have not been disclosed, the sale of the Rotterdam terminal marks GES’s exit from the Dutch market.
According to GES, the decision to divest the Rotterdam terminal aligns with its growth strategy centered around Asia, where the demand for bulk liquid storage, encompassing chemicals, biofuels, and emerging energy products, continues to escalate.
Commenting on the sale, Peter Vucins, CEO of GES, stated, “Part of the investment cycle is realizing value from assets at the right time, and we’re confident this was the opportune moment for GES. We are now fully committed to advancing our business in Asia, with Port Klang serving as the focal point of our strategic vision.”
Vucins further expressed gratitude towards the Rotterdam team and customers for their unwavering support and dedication to maintaining a safe, reliable, and forward-thinking operation throughout GES’s ownership tenure.
As GES embarks on a new chapter with a heightened focus on the Asian market, the sale of the Rotterdam terminal underscores the company’s strategic realignment and commitment to capitalizing on the burgeoning opportunities in the region.