SOCEP S.A. acquired Phoenix.

Socep SA is a Romania-based company engaged in the operation of port facilities and provision of port services. The Company operates in the Constantza Port and Constanta Sud Agigea Port, which are located on the coast of the Black Sea. The Company is primarily involved in the cargo handling, including loading and unloading of solid bulk and containers. Additionally, the Company provides storage services, including storage of containers, reefer containers, break bulk and bulk cargo. Socep SA also operates warehouses and refrigerated warehouse for fresh fruit storage. The Company organizes its activities between two main terminals: a container terminal, with 300,000 twenty-foot equivalent unit (TEU) containers of annual handling capacity, and a general cargo terminal, with three millions tons of annual handling capacity.