Nordic Business Report-November 1, 2006-Icelandic shipping group Eimskip acquires US transportation company Pacific Tramper Services Inc
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Icelandic transport sector investor Avion Group said on Wednesday (1 November) that its shipping and land transport subsidiary Eimskip has acquired US transportation company Pacific Tramper Services Inc.
The purchase will be financed by Eimskip's equity, Avion Group said.
Pacific Tramper Services is the leading reefer tramping service for frozen fish in Alaska, and currently transports some 35,000 tonnes of fish from Alaska to Asia. The company is based in Seattle, but runs significant port logistics operations in Dutch Harbor in Alaska. The annual turnover is USD5-6m.
Avion Group said that the acquisition will strengthen Eimskip's position in Alaska, and that will also support its plans to connect Alaska and Northwest USA to Eimskip's worldwide logistics network.
Eimskip operates at 104 operational bases in Europe, North America, South America and Asia. The company operates 40-50 vessels, 640 trucks and over 40 cold stores.
Avion Group was established in 2005 to invest in the transport and logistics sector. The company is listed on the Icelandic Stock Exchange.
One British pound (GBP) is worth approximately 1.86 US dollars (USD).
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