WILSON ASA ACQUIRES 100 % OF EURO CONTAINER LINE

Wilson and Eimskip have today entered into an
agreement in which Eimskip has agreed to sell
their 50 % share in Euro Container Line (`ECL`) to
Wilson. Wilson will after the transaction own 100
% of ECL. The transaction is subject to approval
from the Norwegian Competition Authority.

Euro Container Line provides marine transportation
services for containers / breakbulk and operates a
container line between Hamburg / Bremerhaven and
ports in West and Mid Norway. The company`s
customers are the larger overseas container
operators as well as industrial cargo customers.

ECL has been a 50-50 joint venture between Eimskip
and Wilson and operates at time being a fleet of 3
vessels. Going forward, Wilson is likely to expand
the company`s current business. ECL has its
offices in Bergen together with Wilson Bergen as
well as an 100 % owned agency; NSA Schifffahrt und
Transport GmbH, in Hamburg. Gross turnover in 2007
was MNOK 129.

Wilson will acquire the shares for MNOK 40. The
transaction includes all activities and assets
within ECL and NSA. Implementation will be
effectuated following approval from the Norwegian
Competition Authority.

The transaction calls for no operational changes
and both ECL and NSA will carry out their
businesses as before.

Om oss

The Company’s business concept is to offer Norwegian and European industry competitive, secure, reliable, flexible and long-term maritime transport services. With large transport volumes and long-term transport portfolios, Wilson can optimise sailing patterns and achieve efficient operations and thus secure long-term stable earnings. The Company’s strategy is to focus on growth and expansion in the European dry cargo segment by increasing the volume of long-term freight contracts, purchasing tonnage, acquiring companies or entering into alliances with other players. The Company’s financial strategy is to keep focus on and control risk, as well as hedge against major fluctuations in general market conditions for Wilson by aiming for: - A high contractual share of the total freigt volume- A reasonable balance between contract portfoilio and freight capacity- A balanced currency risk- Reduced exposure to fluctuations in bunker pricesAs a part of Wilson’s company culture, core values and ethical guidelines have been prepared and implemented. Wilson’s core values are to be: reliable, service minded, professional, long term, solid, competitive and innovative.

Abonner