Samskip has agreed a deal to take over the activities of Nor Lines from DFDS Group.
Stavanger-based, Nor Lines is a diversified logistics business offering domestic and international services with sales of some €110 million.
The transaction includes terminal activities nationwide, warehousing and haulage services, while five out of seven multi-purpose vessels will be transferred under a time charter arrangement to Samskip. It also brings 170 employees, based in 14 locations throughout Norway. Post-acquisition, activities will continue operate under the Nor Lines brand name.
“The Nor Lines takeover represents a major opportunity for Samskip,” says Ásbjörn Gíslason, chief executive officer of Samskip Logistics. “It is a natural but significant extension of our shipping and logistics activities in Norway which will further broaden our customer offerings. Nor Lines’ financial performance has been disappointing in recent years, but we are confident that by combining our respective strengths and refocusing the business we will create synergies, improve efficiency and provide customers with enhanced services.”