Australian logistics and infrastructure company Qube Holdings has agreed to acquire Newcastle Agri Terminal (NAT) from existing shareholders CBH, Viterra Australia, Riverina and CTC Terminals, the company announced on 8 September.
The agreement, which was due to be finalised on 30 September, would involve Qube paying A$90M (US$65.4M) for NAT, according to the announcement.
“The acquisition of NAT will further strengthen Qube Agri export bulk service, offering growers and traders the ability to now ship from Newcastle,” Qube Holdings managing director Paul Digney said.
Based in Newcastle, New South Wales (NSW), the NAT grain export facility offers approximately 60,000 tonnes of silo storage and features infrastructure for rail deliveries, road discharge facilities with the ability to deliver up to 2,000 tonnes/hour, Qube said.
NAT’s terminal was positioned to capture export grain from the large northern NSW region, one of the most productive grain producing regions in the world, according to the company.
According to its website, NAT offers grain storage and export solutions for grains, oilseeds and legumes through the Port of Newcastle. Services offered by the terminal include loading bulk export shipments, packing grain into containers, delivering grain to domestic customers, handling imported grain, and fumigation and blending of grain.
Qube offers port, bulk, logistics and property services, according to its website.