United Arab Shipping Company now fully merged with Hapag-Lloyd
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United Arab Shipping Company now fully merged with Hapag-Lloyd

GERMANY's Hapag-Lloyd is the world's fifth biggest container line now that the United Arab Shipping Company (UASC) has been fully merged into its operation, vastly improving overall financial results.

03 December 2017 - 20:00 - Update: 03 December 2017 - 23:15

Hapag-Lloyd CEO Rolf Habben Jansen said rapid completion of merger was helped the company's experience in merging CP Ships in 2005 and CSAV in 2014.

"Already in 2018, we will benefit from the merger of the two shipping companies due to significant cost reductions," he said, reported IHS Media.

"The quick and smooth integration of UASC into the Hapag-Lloyd Group has also played a crucial role. We have already been able to realise the first synergies resulting from the merger, which will help us to further solidify our position in the sector," said Mr Habben Jansen.

Hapag-Lloyd now offers 125 liner services in a global network, and beginning in 2019, the company expects annual synergies of $435 million as a result of the UASC merger.

 

 

 

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