Release Date: 25 May 2010
Release ID: 4736
(25 May 2010, Hong Kong:) It has been announced today that the shareholders previously comprising 60% of Hactl have increased their interests to 100% on a pro rata basis by acquiring shares owned by Cathay Pacific related companies. The continuing shareholders are Jardine Matheson, Hutchison Port Holdings, Wharf Holdings and China National Aviation Corporation. The acquisition follows Cathay Pacific’s decision to proceed with the development of its own air cargo terminal at Hong Kong International Airport, which is due to complete in 2013.
The increased investment in Hactl by its continuing shareholders clearly demonstrates their confidence in Hactl's long-term growth and development. Hactl will benefit from the excellent prospects for the expansion of air cargo in the region and from Hong Kong International Airport’s status as the world’s leading air cargo hub.
Commenting on the Company’s prospects Hactl Managing Director, Anthony Wong, said “The Hactl Management team remains fully committed to ensuring that the Company maintains its award-winning status as the leading air cargo terminal in the world. We look forward to continuing to partner with our customers to support their growth in Hong Kong and the region.”
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