Thessaloniki Port Authority S A : Press Release 17.04.2018 - The new Management of Thessaloniki Port Authority SA presents strategic plan for the development of the port

The Management and members of the Board of Directors of Thessaloniki Port Authority SA, presented today, April 17th 2018, their strategic plan for the development of the Port of Thessaloniki into the gateway of the Balkans and South-East Europe, during a press conference held in Warehouse C, Port of Thessaloniki.

The Chairman of the Board of Directors and Chief Executive Officer of ThPA SA, Sotiris Theofanis, presented the vision along with the main axes of the Management's strategy for the exploitation of the port. 'Three major companies have decided to join forces to transform the port of Thessaloniki into a major shipping and logistics hub in South-East Europe. We are convinced that we will overcome any difficulties whatsoever and achieve our goals, significantly, contributing to the growth of Thessaloniki's and the wider area's economy', said Mr. Theofanis, stressing that there is already evidence of an improved performance since the new management took over three weeks ago.

The strategy, as emphasized by Mr. Theofanis, includes the following:

- Restoring of the proper functioning of the port

- Procurement of state-of-the-art container-handling equipment

- Reorganisation of ThPA SA and development of a customer-centric culture

-Immediate commencement of mandatory investments with as key objective the expansion of Pier 6 and the creation of a new container berth for New Panamax and mainline vessels.

-Development of beyond-the-port activities

According to the Management Team, during the current period, a survey of the problems and deficiencies takes place in every department of Thessaloniki Port Authority, so that all necessary actions can be taken to improve the operations. 'The staff responds well to the new conditions and requirements of this new era', Mr. Theofanis noted.

The Deputy Chairman of the Board of Directors of ThPA and Terminal Link SAS CEO, Boris Wenzel, stated that the 'key priority for the new Management of the Port is regaining the confidence of the port's customers who have been very affected by the lack of reliability of the port and the long waiting times. Terminal Link is bringing the benefit of its vast international experience to identify and address in the most timely and efficient way the deficiencies identified and to rapidly upgrade the standards of the Port of Thessaloniki'.

Chief Executive Officer of Deutsche Invest Equity Partners GmbH and member of the Board of Directors of ThPA SA, Alexander-Wilhelm von Mellenthin, said: 'Our interest for the port of Thessaloniki was first revealed in the summer of 2014. By analyzing data related to the market and competitive dynamics for the company, we were convinced that the Port could leverage on its strategic advantages and achieve a unique sustainable and competitively defendable position in the market. We are enthusiastic that together with our consortium partners, we can harness the potential of the port and transform it to become a key player in the Mediterranean Sea with a strong link to the Greek hinterland and the Balkans'. He also underlined that DIEP as a member of Deutsche Invest Capital Group is a German alternative investment management company, active in many asset classes and industry sectors.

Arthur Davidyan, member of the BoD of ThPA SA, noted that although Belterra Investments Ltd. holds the lowest stock percentage (20%) in the consortium, it aspires to play a key role in the dissemination of the benefits of the development of the Port to Thessaloniki's society and to the wider region. 'Αs a minority shareholder of the Consortium, we will play the majority role in providing the effect of the Port of Thessaloniki's development to the city and local community. We want the Port of Thessaloniki to develop dramatically, to become the business leader of Northern Greece as a first step and a leader in the East Mediterranean port industry and gateway to the Balkans as the second step', Mr. Davidyan noted.

Rui Pinto, Deputy Chief Executive Officer and Chief Commercial Officer of ThPA SA, pointed out that the Port of Thessaloniki is a main driver of the economic growth of Northern Greece, and that the new management is determined to transform it into a state-of-the-art facility.

The Management of ThPA has stated its determination to develop synergies with the local authorities and entities in order to make the best use of the port of Thessaloniki, bringing multiple benefits to the local community and economy.

The press conference was coordinated by the Director General of the Municipal Society of Information, Speech and Communication, Filios Stangos.

On March 23, 2018, the new Board of Directors of ThPA SA was constituted into a body after the payment of 231,926 million euros and the completion of the transfer of 67% of the company's share capital to South Europe Gateway Thessaloniki (SEGT) Ltd.

SEGT Ltd consists of 'Deutsche Invest Equity Partners GmbH' (47%), 'Terminal Link SAS' (33%) and 'Belterra Investments Ltd.' (20%).