GEMPORT Has Been YILDIRIM`s Latest Port Acquisition
GEMPORT Has Been YILDIRIM`s Latest Port Acquisition
A YILDIRIM Group subsidiary, YILPORT Holdingacquired a majority share of %86.6 in Turkey’s firstprivate port, GEMPORT Port and Warehousing Administration.GEMPORT, formerly a Turkiye Is Bankasi companyfounded in 1992, performs container, vehicle and generalcargo handling and warehousing services as well asproviding pilotage and towage services to all vesselscalling Gemlik Bay and Mudanya region.YILDIRIM Group President Robert Yuksel YILDIRIM commented on the company’s expansion plans andstrategic goals in port operations and management:
“We had bought a 50% share in Malta Freeport for 200 million euros and we are in negotations with ports inAfrica and Latin America. We are not hurrying though since we have to find the ones with the best returns.With YILPORT Gebze, YILPORT Gemlik, Malta Freeport and RotaPort, we managed to reach aportfolio value of 2 billion dollars. We will invite foreign investors to our portfolio right after we reach acritical and sustainable size.We are building a new berth of 1,800 m long right now.The biggest cranes in Turkey are on their way and wewill be able to handle the largest vessels.We will be in an admirable position in five years.Currently, we have an annual container handling capacityof 5.5 million TEUs in five ports, and in five years wewill reach a capacity of 7.5 million TEUs. This is arecord for a Turkish company and we have managedto be one of the top 20 global port operators in a shortspan.”
GEMPORT, which employs more than 400 people, is oneof the major ports in the Marmara Region and Turkeywith a container handling capacity of 600,000 TEUs anda vehicle loading/ discharge capacity of 400,000 CEUsper annum.“YILPORT now has a new gem in its portfolio,” saidSean R. PIERCE, CEO of YILPORT Holding.“GEMPORT, with its experienced staff of professionalsand enviable location, represents a very strategicacquisition for the organization; one that will allowYILPORT to create one of the largest, mosttechnologically advanced facilities in all of Turkey and the surrounding region.” Mr. Pierce went on to state “weare very excited about the addition of GEMPORT with its diversified portfolio of services which also fits withYILPORT’s overall strategy of providing one-stop-shopping to its customers while consistently delivering thehighest productivity.”Turkey’s port operations have been increasing in both capacity and diversity of services. Privatization in Turkeyin the next few years will include many of the state owned ports since the growth in the region is going strong.