Associated British Ports (ABP) has reached an agreement with Fox Group (Fox) to acquire its ports in Fleetwood and Silloth, subject to regulatory approvals.
ABP reported that Fox’s ownership of Fleetwood and Silloth ports is expected to bring new growth and investment opportunities to the region, benefitting the area.
Fox Maritime, operating from Glasson Dock in Lancaster, is expanding its services and focusing on carbon reduction after celebrating its first anniversary.
ABP said it will ensure support for employees’ long-term employment and compliance with regulations throughout the acquisition process.
The completion of the acquisition depends on regulatory clearances and customary closing conditions.
Paul Fox, CEO of Fox Group, and Andrew Duckett, CEO of JA Jacksonssaid: “The acquisition of the ports of Fleetwood and Silloth aligns with our long-term vision for sustainable growth as a company and develops our long established and extensive property portfolio.
“We look forward to working closely with local communities, businesses and stakeholders to ensure the continued success and development of these vital ports and the economic development of the Northwest.”
READ: ABP begins first phase of Millbay Docks development
Julian Walker, Chief Commercial Officer and Regional Director, Wales and Short Sea Ports for ABPstated: “ABP is committed to securing the best long-term future for the ports in its portfolio. The strong vision that the Fox Group has for the ports of Fleetwood and Silloth, building on the group’s long established local links and presence, offers a bright future for both ports.
“ABP has a number of exciting projects across our remaining ports in the northwest of England and south west Scotland and today’s announced deal allows us to focus resources on further maximising these opportunities.”
Last month, ABP announced plans for the Port of Newport to support a new era of green growth for the port and the city of Newport.
More recently, ABP announced the appointment of Ben St-Quintin as the new Lead Property Development Management for the Wales & Short Sea Ports region.
