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Kursiu Linija joins forces with Eimskip

LEADING short sea operator Kursiu Linija has sold a fifty per cent share of its equity to Icelandic transport company Eimskip.

The deal gives Kursiu Linija resources to continue its strong growth and develop new intra European services, and continues Eimskip’s strategy of becoming a transport market leader offering total services in the North Atlantic through a network linking key ports in Europe.

Lithuania-based Kursiu Linija has an expected turnover of approximately 60 million Euros in 2006 compared to 46 million Euros in 2005. The company is expected to show profits for 2006. Kursiu Linija will continue to be managed by the current management, including Arijus Ramonas, managing director of the company.

Arijus Ramonas, CEO of Kursiu Linija, says, ”The future vision and policy of Eimskip coincides with Kursiu Linija’s vision and policy. Many big shipping lines in the North-Atlantic have shown interest in co-operating with Kursiu Linija. During the discussions over the last few months, we found that Eimskip was the optimum choice. With Eimskip we found an interesting partner which we can evolve with, for the benefit of both companies and our customers.”

Baldur Guðnason, CEO of Eimskip, says, ”Eimskip’s investment in Kursiu Linija is in accordance with the company’s policy of building a strong and versatile transportation and logistics service in Europe and strengthening Eimskip’s intra-Europe sailing network. For the last decade, Kursiu Linija has managed to build-up valuable goodwill and knowledge in this region which will benefit Eimskip and the company’s customers.”

About Kursiu Linija
Kursiu Linija was established in 1995. It currently operates three seperate services, between the Baltic States and Poland and UK and Benelux, between Germany and Kaliningrad and between Germany and Lithuania and Sweden. The main ports that Kursiu Linija calls at are Klaipeda in Lithuania, Liepaja in Latvia, Gdansk in Poland, Ipswich and Teesport in UK, Rotterdam in Netherlands, Hamburg and Bremerhaven in Germany and Åhus in Sweden.

Kursiu Linija operates six vessels with a transport capacity of 300-650 teu. In 2001, a strategic decision was made to invest in 45ft containers in order to strengthen the company’s competitive position versus overland transport and to heed the EU appeal to minimize inland transportation in this region. Kursiu Linija owns approximately 1,500 high cube pallet wide 45ft containers, drycontainers, refrigerated containers and curtainside containers. The total transport capacity is 5,000 teu.

Kursiu Linija transported 140,000 teu in 2005 and the estimate for 2006 is 220,000 teu. The company handles transportation for Masterfood, Procter & Gamble, Gillette and IKEA as well as for other companies.

About Eimskip
Eimskip, a subsidiary of Iceland’s Avion Group, offers total transportation solutions to its customers, including ocean freight, reefer logistics, air freight and inland transportation, with particular expertise in temperature controlled logistics and storage. Eimskip operates at 80 operational bases in Europe, North America, South America and Asia. The company operates 30 vessels, 400 trucks and over 40 cold stores.

About Avion Group
Avion Group operates at 110 bases worldwide and employs 6,500 people. The company offers its customers reliable, fast and practical transportation solutions.

2006-05-23Kursiu Linija

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