Wednesday, July 17, 2013

Iowa Pacific, Holdtrade (UK) Ltd. form Colombian joint venture

Written by  William C. Vantuono, Editor-in-Chief
Iowa Pacific Holdings, LLC, and Holdtrade (UK) Ltd. of Greenwich, England, have formed a new company, Holdtrade Atlantico, to apply for rail freight operating licenses in Colombia. The new company was introduced during a July 12 press conference in Bogota, the Columbian capital.

“With the rapid growth of the Colombian economy and new government support for reopening now idle rail lines, we see significant potential for rail freight transportation as a means of reducing transport costs for export products such as coal and petroleum,” said Iowa Pacific President of Ed Ellis. “We will be working closely with our partners at Holdtrade, Colombian government ministries, and prospective shippers to develop these services as quickly as circumstances permit.”

Participating in the ceremony in Bogota were Roger Gifford, Lord Mayor of London; Lindsey Croisdale-Appleby, UK ambassador to Colombia; Matthew Burrow, Managing Director, Holdtrade (UK); and Diego Martinez, President, Holdtrade Atlantico. Representing Iowa Pacific were Stephen C. Gregory, Executive Vice President-Marketing, and Kevin W. Busath, Vice President-Strategic Planning.