the world-wide colossus of marine transport ro-ro Wallenius Lines and Wilh. Wilhelmsen plans the fusion



The run renewed one to the concentrations in the shipowning field reaches an important new today milestone with the announcement of the next fusion between the Swede Wallenius Lines and the Wilh Norwegian. Wilhelmsen, companies that collaborate closely from on July 1°, 1999 when they founded joint venture Wallenius Wilhelmsen Lines (WWL), the main world-wide company in the segment of the marine transport of automobiles.

Wallenius Lines and Wilh. Wilhelmsen a letter of attempts has undersigned that previews the constitution of the new society Wallenius Wilhelmsen Logistics (WWL), that it is the new denomination assumed in 2006 from the Wallenius Wilhelmsen Lines. New WWL will be participated to 40% about from the Wallenius Lines and to 40% about from the Wilh. Wilhelmsen.

In new WWL they will meet the current Wallenius Wilhelmsen Logistics, that it is specialized in the marine transport of car and connected the terminalistiche and logistic activities and of which the two nordeuropee companies stop the entire capital jointly, Eukor Car Carriers, than work in the same field and of which Wallenius Lines and Wilh. Wilhelmsen possesses each 40% of capital (remaining 20% is in the hands of the automotive houses Hyundai Motor Co. and Kia Motors), and the American Roll-on Roll-off Carrier (ARC), American flagship company that mainly on behalf takes care also it of the marine transport of rotabili of the government American and its agencies and that he is participated jointly by Wallenius Lines and Wilh. Wilhelmsen.

Moreover the two nordeuropee shipowning societies have agreed the fusion of the property of the great part of the ships of the respective fleets and the correlated assets.

Between the other main ones participated from the two companies figure also the United European Car Carriers (UECC), that 50:50 between Wallenius Lines and the Japanese Nippon Yusen Kaisha (NYK is joint venture) and that does not take part of the agreement of fusion between Wallenius Lines and Wilh. Wilhelmsen.

Wallenius Lines and Wilh. Wilhelmsen has specified that the fusion project previews that the new Wallenius Wilhelmsen Logistics is quoted to the Stock exchange of Oslo subentrando in the list to the Wilh. Wilhelmsen.

Craig Jasienski, current managing director and president of Eukor Car Carriers, will be named managing director of new WWL. In sight of such nomination, and in order to facilitate the procedure of fusion, Jasienski it has become from today managing director, as well as of the EUKOR Car Carries, also of the Wallenius Wilhelmsen Logistics.

Wallenius Lines and Wilh. Wilhelmsen previews to obtain the authorizations to the fusion by the competent authorities within the end of this year and to carry to term the transaction within the first trimester of 2017.

"The markets in which the societies participated jointly from the two companies are active - have explained the president and managing director of Wilh. Wilhelmsen, Jan Eyvin Wang - they are crossing a phase of fast change and demand a model of more agile and efficient business. Besides to institute a property and a structure of common governance, previews the planned fusion will together allow synergies between the 50 and 100 million dollars putting activity and taking advantage of economies of scale, included an optimal planning of the tonnage and administrative efficiencies, commercial and operating between the companies".

"The changed the pressure and market dynamicses on the margins - they have added the president of the Wilh. Wilhelmsen, Thomas Wilhelmsen, and the president of the Wilh. Holding Wilhelmsen, Diderik Schnitler - they impose a drastic change in the way in which we manage our joint venture in the field of the shipping. With our Swedish partner we want to continue to being world leaders in the segments of the cars and the ro-ro and to develop our logistic activities in order to serve our customers".

"In last - it has found the CEO of Wallenius Wilhelmsen Logistics, Craig Jasienski - the markets of the marine transport of car and rotabili they are changed remarkablly. Today we find ourselves of forehead to a fragmented and volatil market, that it demands more complex and expensive operations in a context of pressure to the decrease on the rates. With the new planned structure we can realize important operating and commercial synergies creating an agile and efficient platform for the future increase".