July 25 - Samskip will acquire the activities of Nor Lines, part of the DSD Group, subject to the approval of Norway's competition authorities.
As part of Samskip's expansion of its shipping, transport and logistics businesses in Norway, the transaction will include terminal activities, warehousing and haulage services. Five out of Nor Lines' seven multipurpose vessels will be transferred under a time charter arrangement to Samskip.
Norlines' vessels can lift up to 80 tonnes with their own crane and the line claims wide experience in handling construction materials and oversized project cargoes.
Samskip Logistics' ceo, Ásbjörn Gíslason, described the acquisition as "a natural but significant extension of our shipping and logistics activities in Norway.
"Nor Lines' financial performance has been disappointing in recent years, but we are confident that by combining our respective strengths and refocusing the business we will create synergies, improve efficiency and provide customers with enhanced services," added Gíslason.
Nor Lines has 14 locations throughout Norway, and post-acquisition will continue to operate under the Nor Lines brand name.