ESCO ACQUIRES FULL OWNERSHIP OF REVAL LOGISTIK AS

 

In an agreement executed today AS Eesti Merelaevandus (Estonian Shipping Company Ltd. - ESCO) will buy out Chr. Jensen AS, Denmark (CHJ) and become the sole owner of AS Reval Logistik (REVAL).

 

“We are very happy with this agreement as this is an important step forward for us in our plans to enhance our presence in both logistic services and the Baltic region in general” says Soren Andersen, MD of ESCO, a fully owned subsidiary of Tschudi Shipping Company of Norway. He adds: “Reval will continue to be operated as an autonomous company in close combination with Tschudi Shipping Finland OY, Helsinki.

 

Anders Bjerno, Chairman of the board of Chr, Jensen AS adds: “We have had a very pleasant cooperation with ESCO around REVAL, and the parties have agreed to continue working close together. However, both companies wanted to develop their future business in their own way. Chr. Jensen AS, Denmark has since 1996 been active in Estonia through their 100% owned subsidiary Chr. Jensen Eesti AS in the field of liner agency, transit and forwarding. This Business will be developed further in the future”.

 

 

AS Eesti Merelaevandus  Chr. Jensen AS, Denmark