APM Terminals, the port-operating arm of Danish industrial group A.P. Moller-Maersk A/S (MAERSK-B.KO), will invest $3 billion in 2012, the company said Tuesday, 4-traders reports.
"Growth is key for the independent port and inland services operator. Most industry analysts forecast a large need for additional port capacity over the next decade [and] APM Terminals is eager to secure the lion's share of global growth opportunities," the company said.
APM Terminals' Chief Executive Kim Fejfer said: "We committed more than $3 billion to infrastructure development and facility expansion in 2011 and expect to do something similar in 2012."
The company also aims to strengthen profitability through an efficiency program.
"The drive for transforming APM Terminals into a productivity super-performer is still in its early stages, but the goal is to discover efficiency gains of $200 million over five years," Fejfer said.
APM Terminals Monday reported a 10% increase in sales for 2011 to $4.7 billion and a 24% increase in profit excluding divestment gains and impairment losses to $611 million. It said higher profits are expected for 2012.
Parent company A.P. Moller-Maersk also reported earnings Monday.
"Growth is key for the independent port and inland services operator. Most industry analysts forecast a large need for additional port capacity over the next decade [and] APM Terminals is eager to secure the lion's share of global growth opportunities," the company said.
APM Terminals' Chief Executive Kim Fejfer said: "We committed more than $3 billion to infrastructure development and facility expansion in 2011 and expect to do something similar in 2012."
The company also aims to strengthen profitability through an efficiency program.
"The drive for transforming APM Terminals into a productivity super-performer is still in its early stages, but the goal is to discover efficiency gains of $200 million over five years," Fejfer said.
APM Terminals Monday reported a 10% increase in sales for 2011 to $4.7 billion and a 24% increase in profit excluding divestment gains and impairment losses to $611 million. It said higher profits are expected for 2012.
Parent company A.P. Moller-Maersk also reported earnings Monday.