Cross-Channel ferry company sold
Comments |
by
Graham Tutthill
Transport company DFDS has bought cross-Channel ferry operator
Norfolkline from AP Moller-Mærsk for 346 million euro (£307
million).
DFDS said this would create Northern Europe’s leading sea-based
transport network by combining two leading and complementary
shipping companies.
"This is a perfect match," said
DFDS’ chief executive officer Niels Smedegaard.
"Norfolkline is a leading ferry and
logistics company with a strong route network covering the North
Sea, the Channel and the Irish Sea, combined with a considerable
logistics operation.
"This means, that DFDS’ network is
expanded to include two new markets, the Channel and the Irish Sea,
we can combine our operations on the North Sea, and our ability to
secure volumes for the network is greatly strengthened.
"We both serve passengers and
freight customers and can now provide transport solutions spanning
the whole of Northern Europe - from Russia to Ireland.
"Through this acquisition we gain
scale and come closer to our vision of building a European sea
based transport network."
Mr Smedegaard said he expected the
acquisition of Norfolkline would improve the company’s earnings
once the market recovers.
Norfolkline operates a total of 18
vessels, of which it owns 10.
Friday, December 18 2009
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