GCT Global Container Terminals Inc. enters into agreement to sell U.S. business to CMA CGM Group

New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- GCT Global Container Terminals Inc. (GCT) today announced that it has entered into an agreement to sell its U.S.-based terminal assets to CMA CGM Group, a global player in sea, land, air and logistics solutions.

GCT currently operates two U.S. terminals: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ, in the Port of New York and New Jersey.

GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the Port of Vancouver.

The transaction is subject to customary and required regulatory approvals and consents.

-- 30 --

About Global Container Terminals Inc.

Headquartered in Vancouver, GCT currently operates four Green Marine certified terminals in two principal North American ports. GCT USA on the East Coast, operates two award-winning facilities: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC. Visit www.globalterminals.com or follow @globalterminals to find out more about GCT.

CONTACT: GCT Global Container Terminals Inc. +1 604 267 5102 media@globalterminals.com