MOL MERGES DUTCH LOGISTICS SUBSIDIARIES

MOL MERGES DUTCH LOGISTICS SUBSIDIARIES

   Wassing B.V. and M.O. Express International B.V., two Dutch logistics and forwarding subsidiaries of Mitsui O.S.K. Lines, will merge on Jan 1.
   The new Wassing B.V. unit will incorporate the activities of both companies.
   Wassing B.V., bought by MOL in 1990, currently provides freight forwarding, warehousing, and trucking services mainly in the south of the Netherlands, with annual revenues of about 53 million Dutch guilders ($25 million).
   M.O. Express International B.V., established in 1989, is an air and sea freight forwarder, mainly to Japanese customers based in the Netherlands. It has annual revenues of DG15 million ($7 million).
   MOL said that the merger will reinforce the combined company’s competitiveness thanks to business synergies.