HAPAG-LLOYD PORTFOLIO IS RESTRUCTURED
Hapag-Lloyd, the German tourism and shipping group, will transfer
its tourism activities to Preussag, its parent company, and take over other logistics
companies of the group under a big restructuring exercise.
VTG-Lehnkering and Algeco, two logistics companies, will be integrated
into Hapag-Lloyd to enable all transport and logistics businesses of the Preussag to be
brought together, the company said.
VTG-Lehnkering and Algeco have an annual revenue of about DM2 billion
($1.2 billion) and a staff of 4,500.
Under the new structure, the Hapag-Lloyd group will have an annual
revenue of about DM6 billion ($3.6 billion), with activities in liner shipping, cruise
shipping, logistics and forwarding.
