Samskip snaps up Nor Lines
Nor Lines’ LNG-powered vessel Kvitbjørn was delivered in August 2015
Subject to approval by Norway’s competition authorities, Samskip will pay the mother company DSD Group an undisclosed sum for Nor Lines which has an average annual turnover of around EUR 110 million.
The acquisition will include the Norwegian company’s terminal activities nationwide, its warehousing and haulage services, and five out of seven multi-purpose vessels which will be transferred under a time charter arrangement.
Samskip will also assume responsibility for 170 employees in 14 Norwegian locations.
Samskip’s Norwegian activities have recently undergone significant expansion through internal growth and several acquisitions. The company ships around 90,000 TEU a year between Norway and northern Europe, a volume that is
likely to increase significantly should the takeover go ahead. The frigoCare cold store and terminal in Ålesund is an important component in both companies’ networks and Samskip also owns a half share in Bergen-based Silver Sea AS
which operates a fleet of 14 reefer vessels.
