New Ownership Structure at SAL

Monday, April 04, 2011

Long-term Partner „K“ Line Acquires 100 Per Cent of Shares New Ownership Structure at SAL Schiffahrtskontor Altes Land With effect from 30th of June 2011, the Japanese shipping company Kawasaki Kisen Kaisha, Ltd. (“K” Line Group) will acquire another 50 per cent of the SAL Group and with that will become the sole shareholder of the company.

Over the past five years, the two companies have developed a successful partnership through their joint venture. The „K“ Line Management highly values the global professional expertise of SAL in the field of heavy lift shipping and will retain all current employees including the company’s management after the share transfer.

After more than 40 years in shipping, SAL founders Hans and Claus Heinrich have decided to retire from daily operations but will continue to support the new owner „K“ Line as advisors to the board. The current managing partner Lars Rolner will continue to serve the company as CEO in close cooperation with the two current Japanese managing directors Shigehisa Shimazu and Toshio Yamazaki.

„K“ Line has a strong commitment to further expand the activities of SAL. In December 2010 and March 2011 SAL introduced the two largest heavy-lift vessels in the world – MV “Svenja” and MV “Lone” – into the market. Both have a lifting capacity of 2000ts SWL, a speed of 20 knots and a Dynamic Positioning System 1 resp. 2. These vessels are just as suited to service demanding offshore projects within the oil and gas industry as they are to assist in the installation of foundations for offshore wind parks. “K” Line is planning to strengthen its portfolio by further expanding this business area. With the addition of the heavy lift segment to its container, bulk, tanker/LNG, and offshore transportation services, „K“ Line will be   offering a one-stop shop for a wide array of industrial clients.

Given the current economic rebound, „K“ Line" expects further growth in the oil and gas industries. The SAL fleet is fully prepared to service projects in these industries. Apart from their unrivalled capacity, the vessels have an “environmental passport” and are certified for ISO 14001 and OHSAS 18001, securing the highest standards with respect to health, safety and environmental protection.

The „K“ Line Group is dedicated to further developing  the heavy lift segment as one of its core business areas in close cooperation with the SAL management and staff as well as “K” Line’s worldwide network. The sales price of the shares remains undisclosed.

Source: SAL

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