APM Terminals Management B.V. is a subsidiary of Danish company Maersk group. Founded in 2001 and based in The Hague, Netherlands, APM Terminals is a port and terminal operator providing cargo support, container inland services, and terminal development services. In Latin America, the company operates facilities in Argentina, Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Mexico, Panama, Peru, and Uruguay. In 2011, APM Terminals signed a 33-year concession contract with the Costa Rican government to develop and operate the Moín container terminal on the Caribbean coast. That same year, the company won a 32-year concession contract to build a second terminal at port Lázaro Cárdenas on Mexico's Pacific coast and Phase I is scheduled to open in 2016. Meanwhile, in 2015, APM Terminals acquired 39% of Barcelona-based Grup Maritim TCB, becoming the only owner of the company. Grup Maritim TCB has 11 container terminals with an annual capacity of 4.3mn TEUs and an estimated annual container volume of 3.5mn TEUs. Grup Maritim TCB also works outside of Spain with terminal operations in: Izmir, Turkey; Yucatán, Mexico; Quetzal, Guatemala (under construction, opening 2016); Buenaventura, Colombia; and Paranaguá, Brazil. In January 2016, the company completed the incorporation process with Colombian port and terminal operator Compañía de Puertos Asociados (Compas) and began joint operations as Cartagena Container Terminal Operator (CCTO). APM Terminals is regionally active, with upgrade and expansion projects also located in Callao (Peru), Pecem and Itajai (Brazil), and Buenos Aires (Argentina).