Wilhelmsen Ships Service introduced it has actually participated in an arrangement to obtain container and also freight hold cleaning up business Navadan.
Wilhelmsen Ships Service will certainly take 100% control of Navadan, which will certainly keep its brand name and also run as a completely had subsidiary for the very first duration after the conclusion of the arrangement.
Completion of the deal undergoes fixed problems and also is anticipated to happen in the very first quarter of 2023.
“Navadan have built a strong position as experts within their field. In addition, we really like their way of operating with short lead times and quick deliveries supported by a network of toll blenders. This is a highly complementary match for us, and I am really looking forward to completing this transaction to keep growing both companies together,” stated Kjell Andr é Engen, head of state of Wilhelmsen Ships Service.
Peter Krogh, proprietor and also chief executive officer of Navadan, stated, “It has been a tremendous journey for the last 25 years, building Navadan into a strong supporting player for the commercial shipping industry together with all our colleagues.
“I have this last period considered options on how to build Navadan even stronger for the future. One of these options have been to have another maritime player take over the ownership, offering both complementary competencies and distribution, as well as funding to invest in future growth. I see no better fit for this than Wilhelmsen Ships Service with their global maritime network.”