PTC buys major stake in Abojeb Group

MANILA, Philippines - PTC Holdings  Corp. has acquired a  45 percent interest  in  the  AboJeb Group composed of Aboitiz Jebsen Co., Inc.;  Jebsens Maritime, Inc., and Aboitiz Jebsen Manpower Solutions, Inc.

This  strategic  investment  by  PTC,  one of  the  largest crew management companies in the Philippines, came on the heels of its 35th year anniversary, signaling its  continued confidence in and commitment to the growth and significance of  the Philippine maritime sector  and all  its  related fields,  in spite of the many challenges the industry faces today.   

At the signing ceremony held last Feb. 12 at the Aboitiz Equity Ventures headquarters, AboJeb chairman Bjorn Jebsen said: “We have made a  strategic  decision  to  expand  our  business.”  With  the  entry  of  PTC  as Abojeb’s new shareholder, there is great potential to “develop and grow the manpower business both here in the Philippines and internationally.”  

While PTC and AboJeb will continue to operate as separate companies, areas for close cooperation and synergy will be explored.  Abojeb vice chairman Endika  Aboitiz  expressed  his  confidence  in  the  new  ownership  structure adding that “this partnership has every ingredient for growth and success.”

PTC Holdings CEO Gerardo Borromeo said “this initiative sets the groundwork for further expanding PTC’s footprint globally through new and exciting joint  venture opportunities.  It  brings together  the strength  the Aboitiz and Jebsen  legacy  and  PTC’s  shipping  heritage and industry leadership, providing further dynamism to the development of the Philippine maritime industry..”