In April 2013, Mitsui & Co., Ltd. (“Mitsui”) through its subsidiary Portek International Pte. Ltd. (“Portek”), acquired an 80% equity stake in RUT. Year later Portek/Mitsui acquired athe balance 20%. Thus RUT is 100% subsidiary of Portek/Mitsui. Through this transaction, RUT will gain from Portek’s equipment engineering, port operation experience and close links with shipping lines and cargo owners. Portek, through RUT, will be able to develop its reach into the container, wood and frozen food handling markets in and around the Baltic Sea.
Riga Universal Terminal (“RUT”) operates in the Port of Riga, Latvia’s largest seaport ideally situated on the Baltic Sea to serve as a key crossroad for trade between the East and West. The Port serves regular liner services to major northern Europe ports and dedicated train services to Russia & other Central Asian countries.
Founded in 2001, RUT today handles more than 3.mil tons of cargoes annually and is a leading player in the handling of wood products and frozen food cargoes. RUT’s multipurpose terminal operation also includes the loading & unloading of containers, bulk cargoes and general cargoes, cold storage and rail transport. The Terminal has certified quality, environment protection and working safety management system and complies with ISPS code regulations.
