Fhp acquires 60 per cent of the Torre Annunziata grain terminal
The F2i-owned group has acquired a majority stake in Solacem. It will also develop trade with different types of bulk, such as steel
Fhp, an Italia group specialising in port and rail bulk logistics, which is part of the F2i fund, has acquired 60% of Solacem, a grain handling operator and manager of a terminal in the port of Torre Annunziata. The transaction allows Fhp to further strengthen its presence in Italy's logistics system, adding a new building block in Southern Italy. Thanks to this purchase, the group has 10 concessions in 7 ports (Monfalcone, Marghera, Chioggia, Savona, Carrara, Livorno, Torre Annunziata) and 4 intermodal centres (Fiorenzuola, Piedimonte San Germano, Incoronata, Villa Selva).
Fhp's objective for Solacem, explains Paolo Cornetto, ceo of the logistics group, is to broaden the field of cargo handling (today mainly focused on cereals), consolidating that of other types of bulk, e.g., steel, such as scrap and coils. With the advantage of benefiting from the investment capacities of Fhp (F2i is the main infrastructure fund in Italia, with around 11 billion lire raised) which, with this terminal, will reach 11 million tonnes of goods handled; to which will be added 6 million kilometres travelled by rail, over the course of 2025.
The old shareholders also remain
In the corporate structure of Solacem remain Finagrit of the Langella family, which will continue to develop its grain traffic through the logistics platform of Torre Annunziata, and K4 of Giuseppe Rocco. 'The entry of Fhp,' says Pasquale Langella, CEO of Finagrit, 'represents a strategic step that strengthens Solacem's growth path and consolidates the industrial collaboration between the partners. This operation also opens up new development prospects in the national port and logistics system'.
Rocco, who will continue to lead Solacem as CEO, emphasises that 'the arrival of an infrastructure partner such as Fhp represents an important opportunity for growth: we will continue to develop the company by strengthening its role in port logistics and grain handling, while at the same time accompanying new development initiatives in the territory's port system'. Umberto Masucci, also chairman of the Fhp group, was appointed chairman of Solacem.
Debut in a Southern Port
With the acquisition of 60% of the terminal company, Cornetto explains, "Fhp enters, for the first time, the ports of Southern Italy (where it is already present with rail transport, ndr), thus continuing its growth strategy in the bulk and project cargo sector. The investment in Solacem will represent our first real presence in a port specialised in the handling of cereal products. Together with our new partners, we have ambitious growth targets, which I am sure we will be able to achieve together'.
