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AP Moller does the split

[ September 22, 2016   //   ]

The AP Møller – Mærsk group is to be split into separate transport and energy businesses under a reorganisation flagged up in June. The new transport arm will offer new products, digitalised services and individualised customer solutions, the company stated, adding that it intended “to find solutions for the oil and oil related businesses within 24 months”.
Board chairman Michael Pram Rasmussen said separating the two divisions would enable both to focus on their respective markets.
Transport & Logistics will consist of Maersk Line, APM Terminals, freight forwarding arm Damco, Svitzer and Maersk Container Industry, based on a one company structure with multiple brands. Damco and Maersk Line would also collaborate to deliver new solutions supported by significant investments into digital technology.
By operating as one entity, Transport & Logistics will be able to optimise while strong capital discipline and better utilization of assets would be ensured. “When making investments, acquisitions will be the preferred option,” the company added.
Søren Skou will continue as group chief executive of AP Møller – Mærsk as well as chief executive of the Transport & Logistics division
The new chief executive of APM Terminals will be Morten Engelstoft, currently chief executive of APM Shipping Services and Maersk Tankers.

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