MacAndrews Purchase 25% Share in Progeco Bilbao

Following on last investment earlier in 2013 in the Rail Terminal in Murcia and the launching of the first Reefer Block Train operated in Spain linking Murcia with the Port of Bilbao two times per week, MacAndrews, a door to door Intermodal operator in Europe 100% subsidiary of CMA-CGM Group, have completed the purchase of a 25% share in Progeco Bilbao, SA, becoming its main shareholder.

Since 1985, Progeco Bilbao is offering comprehensive logistic services in the industrial and commercial sectors, basically logistic warehouses, container depot (dry and reefer maintenance and repairs) and transport services.

With the best location in the Port of Bilbao, only 200 meters away from the Container Terminal, Progeco counts with 14,000 m2 covered warehouse for storage of goods up to 15 tons with 27 loading docks, 1,500 m2 refrigerated warehouse with 8 loading docks for Reefer Containers, 4.000 m2 of semi-covered surface for large or steel products with specialized machinery to load up to 46 tons to handle special and out of gauge cargo, 8,000 m2 racked warehouse to stock up to 9,000 pallets, 6,500 m2 of general storage and a depot of 60,000 m2 offering own transport, inspection of containers, maintenance and repairs of dry and Reefer boxes (as the only dealer of most important reefer manufacturers), pre-trip, pre-cooling and assistance in perishable cargo consolidation, including on-board technical assistance for ships in transit 24 hrs/365 days/year.

MacAndrews is an Intermodal service provider of a full range of Intermodal and Logistics services in Europe, specialised in 45' High Cube Pallet Wide containers, serving niche, core geographical sectors of the U.K. and Ireland, Spain, Portugal, Holland, Poland, Scandinavia, and Russia, offering supply chain solutions tailored made to customer needs. Our container fleet is in excess of 9,000 teus in a wide array of sizes and configurations.

With five offices in Spain alone, MacAndrews operates close to 40 block trains on weekly basis linking daily main consumption / production areas throughout Spain with the Port of Bilbao to take advantage of the five sailings weekly to the U.K.