News in Brief

Business Buzz ¦ SATS opens new handling center in Singapore: Coolport@Changi (Coolport), Asia’s newest on-airport perishable handling center, has officially opened in Singapore. Built at a cost of S$16.5 million, Coolport is the first dedicated...


Business Buzz

¦ SATS opens new handling center in Singapore: Coolport@Changi (Coolport), Asia’s newest on-airport perishable handling center, has officially opened in Singapore. Built at a cost of S$16.5 million, Coolport is the first dedicated on-airport facility in Singapore for handling of import, export and transit perishable cargo. Located within the Free Trade Zone, it has an annual handling capacity of 250,000 tons, with scope for expansion from the current 8,000 square meters to 14,000 square meters. With multi-tiered temperature zones ranging from -28C to 19C, Coolport is designed to handle a wide range of fresh produce including chilled meat, live seafood and fresh flowers.

¦ ASIG® receives environmental award: The handler announced that its jet fuel facility operation located at Denver International Airport (DEN) has been presented the 24-Karat Gold Challenge Award by Gov. Bill Ritter, Jr., for its commitment to sustainable environmental stewardship and environmental excellence. In 2009, ASIG achieved Gold Leader Status in Colorado’s Environmental Leadership Program (ELP). The award is presented to a Gold Level member that demonstrates precedence in Colorado’s environmental arena by making significant achievements through their environmental commitments and actions. ASIG’s peers in the Gold Level program voted ASIG as the recipient for this year’s 24-Karat Gold Challenge Award based on their participation with Denver International Airport in an energy savings project of which a key component was the construction of the first solar-powered fuel facility in the United States.

¦ NACCO Adds More Than 400 Jobs for Lift Truck Facilities: NACCO Materials Handling Group Inc., the makers of Yale® and Hyster® lift trucks, has announced the addition of 401 workers for the company’s Sulligent, Ala., Berea, Ky., Ramos Arizpe, Mexico, and Greenville, N.C., lift truck manufacturing facilities.

Partnerships/Acquisitions/Contracts

¦ ATS announces contracts in Calgary, Dallas/Fort Worth, Edmonton and West Palm Beach: Cargojet awarded ATS a multi-year contract to provide ramp handling of their B767F and B727F freighters. ATS also announced that it commenced passenger services on behalf of Lufthansa German Airlines in Terminal D of Dallas/Ft. Worth International Airport. Lufthansa operates daily widebody service to Frankfurt from DFW. In another announcement, United transitioned their full passenger service and ground handling to ATS at Edmonton International Airport. United Express operates more than 200 flights per month in YEG. Air Canada has also awarded the ATS team at Palm Beach International Airport with a full passenger service and ground handling contract.

¦ Swissport International announces new ownership: PAI partners, a Europe-based private equity group, is acquiring the company in full from its present owner, Ferrovial. The acquisition confirms PAI partners’ interest in the growing aviation sector. The sale will have no impact on Swissport’s current clients or its personnel, and the present management team will also remain unchanged. The closing of the transaction is expected in the course of December or beginning of 2011.

¦ SATS Ltd. purchases TFK Corp: SATS Ltd.’s wholly owned subsidiary, SATS Investments Pte Ltd., has entered into an agreement to purchase Japan Airlines International Co. Ltd’s (JALI) entire stake of 50.7 percent in TFK Corporation (TFK) for ¥7.8 billion (approximately S$122 million). The acquisition is targeted to complete by December 2010, subject to customary closing conditions.

¦ Gate Gourmet acquires majority interest in Skygourmet: Gate Gourmet, a member of gategroup, announced a joint venture agreement with India Hospitality Corp. (IHC) to acquire a majority interest in Skygourmet, a leading airline caterer in India with a presence in seven major cities. For gategroup, this transaction is a major move into the Asian market and a strategic breakthrough into the world’s second-fastest growing economy where airline traffic recently has been increasing at an average of about 20 percent. gategroup has acquired a 74-percent interest in Skygourmet and the consideration is a combination of cash and assumption of debt. IHC, the parent company of Skygourmet, will retain a 26-percent interest.

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