I find the report listed below interesting that Navios (NM)is building up their presents in the area where ULTR exists. Wonder who they purchased the 66 barges from, is the business so lucerative in the area that they decided to enter, could that be good for ULTR,is it even a possibility based on the price action ULTR could be a buyout candinate for NM. And no I am not pumping anything, I have a hard enough time figuring the market, just looking for information some one may know about this. For transparency, yes I do believe ULTR is a great buy and has a good business plan. Just listen to the web cast, one comment says it all, where it was stated they would not be buying back stock if it interferred with their business plan,this says a lot.
Navios Logistics Acquisitions On various dates on or prior to October 24, 2011, Navios South American Logistics Inc. ("Navios Logistics") used a portion of the proceeds from its offering of senior unsecured notes due 2019 to acquire three pushboats, 66 barges and one floating drydock facility for a total cost of approximately $56.0 million, including transportation and other related costs. Following the acquisition of two pieces of land for $1.0 million in 2010, in September 2011, Navios Logistics paid another $0.4 million for the acquisition of a third piece of land. All of these pieces of land are located at the south of the Nueva Palmira Free Zone and were acquired as part of a project to develop a new transshipment facility for mineral ores and liquid bulks. Construction of a new silo in the Dry Port During the third quarter of 2011, Navios Logistics commenced the construction of a new silo at its dry port facility in Nueva Palmira, Uruguay. The silo is expected to be completed in March 2012. As of September 30, 2011, Navios Logistics had paid $3.0 million for the silo construction.