Transatlantic lays off 25 seafarers and reflags four vessels

TransAtlantic's business area Industrial Shipping recently announced a cost-cutting plan in order to turn the last quarters’ loss trend. As part of this and in agreement with the Maritime Officers' Association, TransAtlantic now lays off 25 Swedish seafarers and also reflags four ships to Gibraltar and the Netherlands.

Vessels affected are TransFighter and TransFalcon to Gibraltar and TransPine and TransWood to the Netherlands. The reflagging is planned to take place during Autumn 2012.

For further information, please contact
Head of Human Resources Britta Stolt, ph +46 (0)31 763 2348
COO Morten Brühl, ph +46 (0)31 763 2360
Head of Corporate Communications Carina Dietmann, ph +46 (0)31 763 2334

Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Industrial Shipping and Viking Supply Ships. The company has about 900 employees and the turnover in 2011 was MSEK 2,989. The Industrial Shipping business area consists of four divisions: Bulk, Container, RoRo Baltic and Short Sea Bulk. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment. www.rabt.se  

TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on July 24, 2012 at 01.00 pm.