Matson will be returned by the group Alexander & Baldwin independent



The board of directors of the trasportistico group and real estate American Alexander & Baldwin, Inc. (A&B), that it has center to Honolulu, in Hawaii, has approved of the separation of own trasportistica division constituted by the company of navigation Matson Navigation Company, by the logistic society Matson Logistics and the terminalista society Matson Terminals. The plan, than second the programs will be put into effect in the second half of the next year, previews that the A&B shareholders currently receive an action of the A&B and an action of the Matson for each action in they possession.

Matson, as almost the totality of the marine companies that operate line services, has recently strongly accused the impact of world-wide the economic crisis. Such conjuncture has forced the society to reduce the costs, strategy that has lately induced Matson to suspend one of own two transpacifici services ( on 16 August 2011).

Alexander & Baldwin but have evidenced that the decision to return independent Matson is object of a been extended appraisal: "in the last decade - it has explained the chairman of A&B, Walter A. Dods - the management and board of directors of Alexander & Baldwin has periodically lead strategic analyses, included an appraisal on for and against of a separation in two society. After a deepened appraisal we have concluded that the increase of the dimensions, the ability and the solidity financial institution of both our businesses to earth and in transport now allows with these activities to put into effect independently own strategies in order to maximize the value for the shareholders". "This separation - it has continued Dods - will create to two solid quoted societies, financially each of which with beyond a billion of dollars of assets, thousand dependent and a patrimonial state and solid cash flow and in a position to placing the bases for a future increase. The reunited force of two our activities us has been historically useful; however we have reached the point in which the increase and the development of every business they can reach better their potential full load operating as independent societies".

"We preview - it has added to the president and managing director of A&B, Stanley M. Kuriyama - that is A&B that Matson will continue to serve the necessities of the next generations of Hawaii. The separation plan does not include the sale of some activity. Both the societies will be constituted and will have center in Hawaii and will be between the greatest companies of the State. Not there will be some interruption of the activities or of the services regarding our community and, what more important, our commercial and institutional customers, partner and the public will not find some change in the way in which we make business or in which the people make business with we". Kuriyama has specified that, "even if is previewed some transfer of our force job between the two societies, as a result of the separation not there will be some loss of places of work".

The Matson new will have center to Sand Island (Honolulu) and will be constituted by the Matson Navigation Company and the Matson Logistics. The society will be equipped of the 17 ships of the group, the fleet of about 47.000 property container and of the terminalistiche activities in Hawaii and of the participation of 35% in terminalista society SSA Terminals of the Carrix group.