AGI Acquires Cargo Division of USAirports

Airport Group International Inc., one of the world’s largest airport operators, bought the cargo division of USAirports, an airport and cargo service provider. Glendale-based AGI, owned in part by billionaire investor George Soros and Lockheed Martin Corp., approached Rochester, N.Y.-based USAirports with the offer, the closely held companies said. Terms weren’t disclosed. AGI made the acquisition because of the good fit between AGI and USAirports and expected strong growth in the cargo industry, AGI spokesman Frank Clark said. The cargo division, which accounts for a majority of USAirports’ $65 million in annual revenue, provides airport ground services such as jet fueling and de-icing for cargo carriers at nine U.S. airports.