On May 19, 2006, International Container Terminal Services, Inc. (ICTSI) through a wholly owned subsidiary, ICTSI Far East Pte. Ltd., acquired PT Makassar Terminal Services (MTS), which has a Cooperation Agreement (CA) with PT Pelabuhan Indonesia IV (Pelindo IV) for the procurement, installation and operation of container loading and unloading equipment at the Makassar Port Container Terminal, South Sulawesi, Indonesia. The CA was originally due to expire on September 30, 2013, but was extended until January 31, 2023.

The parties have mutually agreed not to renew the CA. In view of the foregoing, MTS, which is one of ICTSI's three operating subsidiaries in Indonesia, will immediately cease operations at the Makassar Container Terminal.