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ARMACUP GAINS GLOBAL SUPPORT
Armacup Maritime Services has announced that Wallenius Wilhelmsen Logistics AS (WWL) and EUKOR Car Carriers Inc. have each taken a strategic share holding in the New Zealand based company.
As of 1 January 2007 the two global car carrier operators will each hold a 25 percent shareholding in Armacup Maritime Services Limited and Agencie Maritime Holdings Limited - the two companies that make up the Liner Service systems from Japan and Korea to New Zealand and Fiji, known as Armacup Express Car Lines.
Armacup pioneered the Japan trade for used cars following its conception in the mid 1980's and today remains a leading player in this trade and the only New Zealand company servicing the route.
Mark Ching, Managing Director of Armacup, comments, 'this is a natural expansion of the long relationship we have had with WWL and its predecessors over the last 18 years.'
'Having the support of these two companies provides strength and versatility to Armacup's present service systems and places us in a position to expand into new areas,' says Ching.
President and CEO of WWL, Arild Iversen, adds that taking this share holding in a well-established New Zealand shipping company is part of WWL's ambition to maintain a presence in the New Zealand market. 'We have been servicing Oceania for over 100 years and see the New Zealand market as an important part of our global service network,' he said.
EUKOR President and CEO Carl-Johan Hagman shares these views and comments that Armacup will become an important part of EUKOR's plans for servicing Oceania in the future.
Armacup was founded in 1984 and has been under the ownership of Auckland businessman Mark Ching since 1988. In addition to services from Japan and Korea Armacup offers liner services from Japan to Europe under the management of its Japan subsidiary Armacup Japan KK in Tokyo.
Wallenius Wilhelmsen Logistics is a global shipping and logistics company specialising in the transportation of finished vehicles, construction and agricultural machinery, and challenging project cargo. It is jointly owned by Wallenius Lines of Sweden and Wilh. Wilhelmsen of Norway. The company has a fleet of 50 modern vessels with an additional 14 vessels on order, and carries 1.7 million vehicles by sea and 1.5 million by road annually. For more information visit www.2wglobal.com
EUKOR Car Carriers is one of the world's largest shipping companies, specialising in transporting automobiles and other rolling cargo. EUKOR directly operates about 85 specialised vessels, with over 30 new buildings underway, annually transporting over 3 million cars to 160 different ports in 110 countries, utilising a global network of offices and agents.
The company was established in December 2002 and is owned by Wilh. Wilhelmsen of Norway, Walleniusrederierna of Sweden, the Hyundai Motor Group and KIA Motors. For more information visit www.eukor.com
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