EVERGREEN PURSUES DIVERSIFICATION
Evergreen Marine Corp., the Taiwanese listed arm of the
group, said that it is diversifying its operations to provide a broader foundation for its
business.
In a letter to stockholders, Sun-san Lin, chairman of Evergreen Marine Corp., said that
company has diversified because "it is not easy to enhance net profit solely on its
core business."
Evergreen has invested in EVA Airways and is now focussing on new areas
of potential, such as mainland China, Southeast Asia, India, South and Central America,
Lin said.
Non-maritime activities targetted by Evergreen include container
manufacturing, road transport, distribution and warehousing.
Evergreen also reported that ocean freight rates are increasing and, as
a result, the container shipping industry "should see a gradual resurgence in
business from 1999."