ESL Shipping has completed acquisition of AtoB@C Shipping
ESL Shipping Ltd, a shipping company fully owned by Aspo Plc says it has today completed the transaction concerning the acquisition of all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB.
The net sales of ESL Shipping will increase from EUR 80 million to approximately EUR 160 million using the figures from 2017. Similarly calculated, the cargo volume carried will increase from approximately 11-12 million tonnes to approximately 16-17 million tonnes. ESL Shipping will have a total of 50 vessels including new LNG-powered ships with a deadweight capacity of 468,000 tonnes compared to the previous 331,000 tonnes. The position of ESL Shipping will strengthen in the category for smaller vessels, and its business will expand with new customers and new product flows.
"Together we form a strong Nordic shipping company that is customer-driven. It has strong shoulders to build future success determinedly," says Mikki Koskinen, Managing Director of ESL Shipping.
"Aspo's strategy is to develop leading companies in its field. The acquisition will shift ESL Shipping to a new size class and put it in a good position to improve operational efficiency and overall profitability of the shipping company", says Aki Ojanen, CEO of Aspo Plc and Chairman of the Board of Directors of ESL Shipping.
ESL Shipping Ltd is the leading carrier of dry bulk cargoes in the Baltic region. Our main clients are the power generation, steel and chemical industries to whom we carry raw materials such as coal, iron ore and limestone. ESL Shipping Ltd has been in business close to 70 years and is a subsidiary of Aspo Plc
