Alexander Baldwin Inc News

The Board of Directors of Matson, Inc. has appointed Stanley Kuriyama as a director of the company, effective June 23, 2016.   Kuriyama is the Executive Chairman of Alexander & Baldwin, Inc. He first joined Alexander & Baldwin in 1992, and from January 2010 until his retirement in December 2015, he served as Alexander & Baldwin's president and chief executive officer. Prior to joining Alexander & Baldwin, Kuriyama was a partner in the law firm of Cades Schutte Fleming & Wright, specializing in real estate and real estate financing. He is a 1977 graduate of Harvard Law School.

Matson, Inc. announces its second quarter 2012 financial results. The financial results for the second quarter and first six months of 2012 reflect Matson's separation from its former parent corporation, Alexander & Baldwin, Inc., on June 29, 2012. The separation of Matson from A&B was originally announced on December 1, 2011. Commenting on the quarter, President and Chief Executive Officer Matt Cox said, "While we are reporting improved operating income for the second quarter compared with last year, the financial performance of our businesses continues to be mixed with weaker Hawaii freight volume more than offset by improved volume in Guam and improved freight rates in China.

Matson, Inc. Matson, Inc. (NYSE: MATX), the ocean transportation and logistics company, announce that the separation of Alexander & Baldwin Holdings, Inc. into Matson, Inc. and Alexander & Baldwin, Inc. has been completed and that Alexander & Baldwin Holdings, Inc. has changed its name to Matson, Inc. ("Matson"). Under the terms of the distribution, Alexander & Baldwin Holdings, Inc. shareholders receive one share of common stock of Alexander & Baldwin, Inc. for every share of Alexander & Baldwin Holdings, Inc. Matson also announced that its Board of Directors declared a third quarter 2012 dividend of $0.15 per common share. The dividend is payable on September 6, 2012 to Matson shareholders of record as of the close of business on August 2, 2012.

New A&B Will Have a Well-Capitalized Balance Sheet Providing Strong Liquidity and Financial Flexibility; Receives Favorable IRS Ruling on Tax-Free Nature of Planned Separation. Alexander & Baldwin Holdings, Inc. (NYSE: ALEX)  ("Company"), successor by merger to Alexander & Baldwin, Inc., today announced that, in connection with previously announced plans to separate its transportation and land businesses into two publicly traded companies, it has entered into new financing arrangements for the land business ("New A&B"). The new financing arrangements will provide significant liquidity and support New A&B in the execution of its growth strategies as a stand-alone company and complement separately announced financing arrangements that have been made for Matson Navigation Company, Inc.

Alexander & Baldwin Holdings, successor by merger to Alexander & Baldwin, Inc., has announced that its wholly-owned subsidiary, Matson Navigation Company, Inc. ("Matson Navigation"), has entered into a series of debt financing agreements undertaken on behalf of Matson, Inc. ("Matson") as part of the previously announced plan to separate the Company's transportation and land businesses into two publicly traded companies. "We are pleased to announce that we have secured these important debt financing agreements, which mark an important step toward the establishment of Matson as a stand-alone company," said Matt Cox, president of Matson Navigation.

“Old sailors never die, they just drop the anchor,” Robert J. “Bobby” Pfeiffer said over a decade ago as he was contemplating retirement. Pfeiffer, one of Hawaii’s most renowned sailors and captains of industry, dropped the anchor on Friday, September 26, 2003, at age 83, at his home in Orinda, Calif., after a lengthy illness. During his 12 1/2 years at the helm of Alexander & Baldwin, Inc., Pfeiffer became practically synonymous with business leadership in Hawaii. He charted a course of modernization and diversification, and led A&B through one of its strongest periods of growth and prosperity. At the same time he earned a reputation for leadership –– personal as well as corporate –– in support of charitable and other community causes.

After more than 38 years of service, C. Bradley Mulholland will retire, effective January 1, 2004, from both Matson Navigation Company, Inc., which he serves as vice chairman of the board. He also will retire from his position as executive vice president of Alexander & Baldwin, Inc., Matson’s parent company, and from director positions on the boards of both companies. Mulholland joined Matson in 1965 and served in a variety of increasingly responsible positions throughout the company, ultimately being named president and chief operating officer of Matson in 1990, and then president and chief executive officer in 1992. He became vice-chairman of the board in 2002.

Alexander & Baldwin, Inc. announced number of key executive promotions, effective February 9. Christopher J. Benjamin will be promoted to vice president and chief financial officer, reporting to President and CEO Doane. He currently is vice president, corporate development and planning, reporting to current CFO James S. Andrasick. Thomas A. Wellman will be promoted to vice president, controller and treasurer, reporting to Benjamin. He currently is controller and assistant treasurer and has held a variety of financial management positions with A&B and its subsidiaries. Charles W. Loomis will be promoted to associate general counsel, reporting to A&B Vice President and General Counsel Nelson N.S. Chun. Loomis will retain his position of vice president with A&B Properties, Inc.

Matson Navigation Company, Inc. has completed the sale of two combination Ro/Ro /lift-on, lift-off containerships to Sea Star Line, LLC (Sea Star) in Jacksonville, Fla. The vessels, which have been bareboat chartered to Sea Star since the company was formed in 1998, will continue to be deployed in the Puerto Rico trade. The sale to Sea Star, which is owned jointly by SaltChuk Resources, Inc., Matson and Taino Star Investment, Inc., underscores the investors' long term commitment to the line's Puerto Rico service. Matson is a wholly owned subsidiary of Alexander & Baldwin, Inc. of Honolulu (Nasdaq:ALEX). The two ships, the SSs El Yunque and El Morro, were both built by Sun Ship Building and Dry Dock Company and initially placed in the U.S. Atlantic Coast-Puerto Rico trade.

Matson Navigation Co. will pay $3 million in fines after admitting it illegally dumped bilge water that may have been contaminated with waste oil, the U.S. Attorney in Seattle said. San Francisco-based Matson, a unit of Honolulu-based Alexander & Baldwin Inc. specializing in moving cargo between the U.S. West Coast and Hawaii, will also be placed on probation for three years, U.S. Attorney Kate Pflaumer said in a release. Matson will pay $500,000 each to settle cases in San Francisco and Seattle and $2 million to settle a case in Los Angeles, with half the proceeds funding environmental and law enforcement programs at coastal national parks in California and Washington state.

Matson Navigation Co. will pay $3 million in fines after admitting it illegally dumped bilge water that may have been contaminated with waste oil, the U.S. Attorney in Seattle said. San Francisco-based Matson, a unit of Honolulu-based Alexander & Baldwin Inc. specializing in moving cargo between the U.S. West Coast and Hawaii, will also be placed on probation for three years, U.S. Attorney Kate Pflaumer said in a release. Matson will pay $500,000 each to settle cases in San Francisco and Seattle and $2 million to settle a case in Los Angeles, with half the proceeds funding environmental and law enforcement programs at coastal national parks in California and Washington state.

Alexander & Baldwin, Inc. has reported second quarter 2002 net income of $13,197,000, or $0.32 per share. Net income in the second quarter of 2001 was $24,514,000, or $0.61 per share, including a one-time gain of $0.23 per share on the sale of marketable bank securities. Revenue in the second quarter of 2002 was $279,185,000, compared with revenue of $293,012,000 in the second quarter of 2001. Net income for the first half of 2002 was $23,004,000, or $0.56 per share. For the first half of 2001, the Company reported net income of $46,948,000, or $1.16 per share. Revenue in the first half of 2002 was $512,972,000, compared with $567,793,000 in the first half of 2001.

(L to R): Arntzen,Reinhart and Andrasick. United Seamen's Service (USS) to James S. Shipholding Group, Inc. and John F. Line, Limited. Towers. Vice Admiral Vivien S. Crea, USCG, Vice Commandant of the U.S. presented James Andrasick his award. The Honorable Sean Connaughton, U.S. Maritime Administrator, presented the award to Morten Arntzen. Atlantic, Gulf Lakes and Inland Water/NMU, AFL-CIO, presented John Reinhart his award. 200 maritime management, labor, and government officials. the event benefit USS community services for the U.S. seafarers of the world. in a ceremony narrated by Mr. Connaughton. represent the very best of the U.S.-flag industry. Mr. Navigation Company, Inc. on July 18, 2003. chief financial officer and treasurer. an interim basis. He is a graduate of the U.S.

The United Seamen's Service (USS) 2007 Admiral of the Ocean Sea Awards will be presented to James S. Andrasick, President and CEO of Matson Navigation Company, Inc., Morten Arntzen, President and CEO of Overseas Shipholding Group, Inc. and John F. Reinhart, President and CEO of Maersk Line, Limited. The honors will officially be awarded at a gala dinner and dance to be held at the Sheraton New York Hotel and Towers, New York City, on November 2, 2007. John Bowers, Chairman of the USS AOTOS Committee and President of the International Longshoremen's Association, AFL-CIO, made the announcements. sector of our industry," said Mr. Bowers. services, tanker shipping and U.S. Honolulu-based Alexander & Baldwin, Inc. International Flag and U.S.

Kevin L. Halloran has been promoted by Alexander & Baldwin, Inc., to vice president, corporate development and investor relations. He had joined the company last October as director, corporate finance and investor relations, and has added corporate planning to his responsibilities; he continues to report to A&B's Senior Vice President, Chief Financial Officer and Treasurer Christopher J. Benjamin.

Alexander & Baldwin, Inc., announced the formation of a new subsidiary, Matson Global Distribution Services, to expand its logistics service menu to include warehousing and distribution, freight forwarding and non-vessel operating common carrier (NVOCC) services. Matson Global will be headed by 26-year industry veteran Brian Howver, formerly of NFI Industries. Howver will report directly to Matson Integrated Logistics (MIL) president Robert (Bob) C. Papworth and will be responsible for overseeing all aspects of the business, including developing its plan to launch. Howver will initially focus his effort on warehousing opportunities on the West Coast. The formation of Matson Global represents a natural, strategic extension of MIL.

Bank of America Corp. and five other lenders have approved a combined $325m credit line for Alexander & Baldwin Inc. and its subsidiary Matson Navigation. According to a Securities & Exchange Commission filing, Alexander & Baldwin's portion of the credit line is $225 million, and Matson's is $100 million. The credit lines replace a prior agreement that was due to expire in 2011. Source: Charlotte Journal of Business

Alexander & Baldwin, Inc. "As many of you are aware, an earthquake struck the Hawaiian Islands this morning. The undersea quake, which was centered off of the island of Hawaii (the "Big Island"), struck at 7:07 am local time and was followed by a series of smaller aftershocks. Thankfully, initial reports indicate that casualties were limited and that there were no fatalities. As always, A&B stands ready to assist and support its employees, customers and fellow Hawaii citizens in dealing with the aftermath of the quake. "Fortunately, A&B's operations and real estate properties avoided any serious interruptions or damage as a result of the earthquake, and our terminal operations and agricultural facilities continue to operate.

Kevin L. Halloran has joined Alexander & Baldwin, Inc. as director, corporate finance and investor relations. In this newly created position, he will be responsible for a variety of corporate finance functions, including communication with the investment community and oversight of corporate development activities. Halloran will report to A&B's Senior Vice President, Chief Financial Officer and Treasurer Christopher J. Benjamin. Halloran earned a bachelor's degree in economics from Colgate University and completed the Bankers Trust Management Training program, a year-long, MBA-level management training in accounting, corporate finance, international banking and risk assessment and management.

The new Matson Navigation Co. containership MV Maunalei was christened at the Aker Philadelphia Shipyard. The christening, the traditional kind involving breaking a bottle of champagne, was undertaken by Millie Akaka, wife of Sen. Daniel Akaka. Also on hand were Hawaii Rep. Neil Abercrombie and Guam Rep. Madeleine Bordallo. The MV Maunalei is the fourth new containership built by the shipyard for Matson in the past four years, representing an investment of more than $500m by Matson's parent company, Alexander & Baldwin Inc. The Maunalei will enter service in September and be deployed in Hawaii, Guam and China service. It has the capacity for 2,500 TEUs, or 20-ft. equivalent units. Source: Biz Journal

Matson Navigation Co. Inc. says it has drawn $70m under a $105m revolving credit facility in connection with its latest containership purchase. The 10-year senior secured reducing revolving credit facility is with DnB NOR Bank ASA, Norway's largest financial services group. "A portion of the funds borrowed under the facility was used in connection with Matson's purchase of a new containership, the MV Maunalei, which Matson took delivery of on July 12," Matson said Tuesday. The funds were drawn on July 12, the same day Matson, a subsidiary of Honolulu-based Alexander & Baldwin Inc., took delivery of the Maunalei, the fourth new containership it bought since 2003 in a $500m modernization program.

Matson Navigation Company, Inc. (Matson) has begun the first conversion of one of its C-9 containerships, MV Mokihana, to a combination roll-on/roll-off (ro-ro) and container vessel to further strengthen its Hawaii service capabilities. With the conversion, the vessel will have ro-ro and container capacity comparable to two vessels in Matson's service today, the dedicated ro-ro vessel Great Land and the containership S.S. Lihue. The new garage will have the capacity to carry 1,350 vehicles. The plan is part of a multi-phase program that began in 2003 and is designed to provide Matson's auto customers with the two service features they prefer: frequency of service and ro-ro capacity.

James S. Andrasick has been named president and chief executive officer of Matson Navigation Company,Inc., the largest subsidiary of Alexander & Baldwin, Inc. effective August 1, 2003. Andrasick had been serving in that position on an interim basis since July 1, 2002. the near future. Andrasick will relocate to the Bay Area. Additional management changes also were announced in the Matson organization. officer," said Doane. ships. of Matson, on a permanent basis," said Andrasick. business with the Matson team in the years to come. The additional management changes at Matson Navigation Co. sales, marketing, pricing and customer service activities. reporting to Ron Forest, senior vice president, operations. is located in Honolulu. Ron Forest, senior vice president, operations.