November 20, 2017 7:40 AM ET

Company Overview of ICTSI Oregon, Inc.

Company Overview

4004 Kruse Way Place

Suite 325

Lake Oswego, OR 97035

United States

Phone:

503-212-2540

Key Executives for ICTSI Oregon, Inc.

Chief Executive Officer and General Manager
Compensation as of Fiscal Year 2017.

ICTSI Oregon, Inc. Key Developments

ICTSI Oregon, Inc. and the Port of Portland Agree to Terminate the 25-Year Lease Agreement

International Container Terminal Services, Inc. (ICTSI) is ending its contract to operate a port in Portland, Oregon, which has been idled by labor disputes with the longshore workers' union. The company announced that its wholly owned subsidiary ICTSI Oregon, Inc. and the Port of Portland agreed to terminate the 25-year lease agreement signed in 2010 to run the container facility at Terminal 6. The agreement allows ICTSI Oregon to be relieved of its long-term lease obligations effective March 31, pending approval by the Port Commission. The Port’s Board of Commissioners is expected to meet on March 8, 2017. Under the agreement, ICTSI will pay $11.45 million in compensation to the Port of Portland 'to rebuild business', as well as additional container handling equipment, spare parts and tools at the terminal, which are worth an estimated $10 million. ICTSI Oregon and Port of Portland inked the lease agreement in 2010, with the company taking over Terminal 6’s operations in 2011. However, disputes with the International Longshore and Warehouse Union (ILWU) had brought operations at the Terminal 6 to a standstill for more than a year.

Port of Portland and ICTSI Oregon, Inc. Agree to Lease Termination at Terminal 6

International Container Terminal Services, Inc., through its wholly-owned subsidiary, ICTSI Oregon, Inc., and the Port of Portland have mutually agreed to terminate a 25-year lease agreement to operate the container facility at the Port's Terminal 6. The agreement allows ICTSI Oregon to be relieved of its long-term lease obligations effective March 31, 2017, pending approval by the Port Commission. In exchange, the Port will receive USD 11.45 million in compensation to rebuild business, as well as additional container handling equipment, spare parts and tools at the terminal.

Similar Private Companies By Industry

Company Name Region
Aryzta Us Holdings I Corp. United States
Michael Anthony Hernandez, A Professional Corp United States
!SOLUTIONS! Group United States
"Atlantic Tele-Satellite, Inc. United States
"D" Construction, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact ICTSI Oregon, Inc., please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.