Rickmers changes from partnership to stock corporation

The shipping company said it plans to expand its portfolio of energy efficient containerships.    Rickmers Holding GmbH & Cie. KG, parent of the shipping company Rickmers Group, is converting from a partnership to a stock corporation.
   The move, approved at a meeting last Friday, is expected to take place at the end of this month and the company will henceforth do business as Rickmers Holding AG.
   In its first meeting, the company’s supervisory board elected Bertram R.C. Rickmers as chairman of the supervisory board and Jost Hellmann as deputy chairman. The supervisory board also appointed Ignace Van Meenen and Mark-Ken Erdmann as members of the Rickmers Holding AG executive board.
   ““With the announcement of the decision taken today we are very well positioned to take advantage of current and future growth opportunities arising from the consolidation of the shipping sector. Our initial focus is on the further expansion of our portfolio of energy-efficient containerships, which our customers are increasingly demanding”,” said Ignace Van Meenen, Rickmers Group chief executive officer.
   The change in corporate structure “is closely linked to the plans already announced to strengthen the Rickmers Group’s own equity and internal financing capacity. It also provides us with options to implement these measures at group level”,” said CFO Mark-Ken Erdmann.
   “”Conversion of Rickmers Holding into a stock corporation has no effect whatsoever on the corporate bond issued by Rickmers Holding GmbH & Cie. KG, as the issuer itself remains unchanged even though it has adopted a new form of incorporation,” the company added.