Samskip Announces Organisational Changes

The shipping and multimodal systems of Samskip Hf (North Atlantic business) and Samskip Multimodal will be combined under the single Samskip brand, thus creating an even stronger market position for the business.

The main goal of the changes is to simplify and streamline the operations and business approach, as well as to further strengthen Samskip‘s position.

All Samskip dry and reefer forwarding activities will be combined under the new brand Samskip Logistics. This will include FrigoCare, thus creating one coherent and strong business.

In recent years the forwarding businesses have been developed under both the Samskip and Samskip Icepak Logistics brands. The forwarding services have been operated through the various country organisations under the Samskip brand.

Ólafur Ólafsson, Chairman of the Board of Samskip Holding BV:

“These changes are part of preparing the company for the next steps, further growth in potential markets. In 2013, Samskip generated a profit of Euro 12.5 million with a turnover of Euro 560 million, and this is expected to exceed Euro 600 million this year with profits rising further.“

No changes will be made to Samskip‘s Executive Management consisting of Ásbjörn Gíslason, Kristinn Albertsson and Jens Holger Nielsen.

The following organisational changes will take place:

Ásbjörn Gíslason will take up the position of CEO Samskip Logistics reporting to the Board of Directors of Samskip Holding and will be responsible for all forwarding and cold store businesses outside Iceland, hereunder Samskip Icepak Logistics. Ásbjörn

Gíslason will also be responsible for Samskip’s interests in Silver Sea (50%) and Silver Green (25% indirect shareholding).

Jens Holger Nielsen will take up the position of CEO Samskip reporting to the Board of Directors of Samskip Holding and will be responsible for the European multimodal and North Atlantic businesses.

Ásbjörn Gíslason, CEO of Samskip Logistics:

“We see these changes as the first steps in seizing the opportunities that we envisage. We have now created a strong organisation with offices in 24 countries in five continents.  We intend to further develop global solutions with internal growth and strategic acquisitions that fit our operations.  This will be an interesting project for me personally, developing services in the economic systems where there is great growth potential.“

Jens Holger Nielsen, CEO of Samskip:

“These changes capitalise on the strength of the company and will create an enhanced platform for profitable growth, both organic and acquisitional. They will also position us further to provide cost efficient solutions for our customers.  Combining our logistics networks and systems unlocks new possibilities that will result in greater value for our customers, employees and shareholders“.

[mappress]

May 30, 2014