Sea-Cargo AS acquires Haugesund based

company Johs.Sundfor AS

Sea-Cargo has, as part of its strategic move to complement excisting infrastructure, reached an agreement with Johs. Sundfor AS in Haugesund - acquiring 100% of the shares in the company.

Johs.Sundfor was founded as early as 1862 by H. O. Sundfor and is today one of the oldest logistics providers / ship broker / liner agencies in Norway. The company has through more than 140 years grown into a full range Logistics provider - including operating a modern Liner Agency structure with its own terminal and stevedoring services.

Business as usual: Johs.Sundfor will continue trading under its original name and identity - only branded as a company within the "Sea-Cargo group". There will be no major changes to the organisation, structure or way Johs.Sundfor operates. However, Reidar Retzius, presently Managing Director of Johs. Sundfor AS, has accepted a position as a Country Manager Agencies (Norway) in Sea-Cargo AS - and will with this position be overall responsible for the Norwegian part of the Sea-Cargo Agencies network that includes Stavanger, Bergen, Kristiansund and now also Haugesund. Jan Sundfor, presently Commercial Director of Johs. Sundfor will as part of this change take the position as General Manager in Johs. Sundfor and will be responsible for the day to day running of the company.

Managing Director of Sea-Cargo AS, Ole Saevild, says:
"I am pleased with the new strategic acquisition. Haugesund has become a very important hub for Sea-Cargo, and has a great potential for further growth with its ideal geographical location between Bergen and Stavanger. Haugesund has till date been the only Norwegian port serviced without an owned and dedicated Agency structure - despite 10-12 port calls a week connecting the Haugesund region with Esbjerg, Amsterdam, Immingham and Aberdeen."

General Manager of Johs. Sundfor AS, Jan Sundfor, says:
"I am very pleased and encouraged by now joining the Sea-Cargo group. Sea-Cargo will bring onboard a full transport network that will complement Johs. Sundfor's existing operation - and now being able to capitalise on Sea-Cargo's corporate strength Johs. Sundfor is set to grow and develop its services. Innovation and Environment are two key elements for success going forward. The partnership with Sea-Cargo enables us to create new green transport corridors; really setting new market standards."

Please see: www.sea-cargo.no or www.sundfor.no for further details. Contact persons:

Ole Saevild
Managing Directo Sea-Cargo AS

Jan Sundfor
General Manager Johs. Sundfor AS