MOL MERGES DUTCH LOGISTICS SUBSIDIARIES
MOL MERGES DUTCH LOGISTICS SUBSIDIARIES
Wassing B.V. and M.O. Express International B.V., two Dutch logistics and
forwarding subsidiaries of Mitsui O.S.K. Lines, will merge on Jan 1.
The new Wassing B.V. unit will incorporate the activities of both companies.
Wassing B.V., bought by MOL in 1990, currently provides freight forwarding,
warehousing, and trucking services mainly in the south of the Netherlands, with annual
revenues of about 53 million Dutch guilders ($25 million).
M.O. Express International B.V., established in 1989, is an air and sea
freight forwarder, mainly to Japanese customers based in the Netherlands. It has annual
revenues of DG15 million ($7 million).
MOL said that the merger will reinforce the combined company’s
competitiveness thanks to business synergies.