Logistics giant International Container Terminal Services Inc. (ICTSI) has acquired two dry bulk terminals in Brazil for US$130 million, according to a report by Philstar Biz. The terminals handle agricultural imports, marking a further expansion of the Philippine firm's footprint in South America.
The acquisition strengthens ICTSI's presence in Brazil, where it already operates the Port of Santos container terminal. The dry bulk ports are expected to boost the company's capacity to serve the agricultural sector, a key driver of Brazil's export economy.
ICTSI has been actively expanding globally, with terminals in over 20 countries. The Brazil deal aligns with its strategy of diversifying revenue streams and tapping into emerging markets' trade flows.