CP COMPLETES TMM/AMERICANA SHIPS ACQUISITION
Canadian Pacific, the parent company of CP Ships, has acquired the outstanding 50 percent of the Americana Ships joint venture from Transportacion Maritima Mexicana SA de CV.
The transaction gives full ownership to CP Ships of the TMM Lines and Lykes Lines container shipping services.
CP said that the change in shareholding will not affect the day-to-day business of the Americana Ships lines.
Americana Ships will continue to use the TMM Group’s agency, intermodal and container logistics services in Mexico.
Americana Ships, based in Tampa, Fl., was formed in January 1999 by CP Ships and the TMM Group. TMM has now decided to withdraw from liner shipping to concentrate on other activities.