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Stolt-Nielsen S.A. to Acquire the Tank Container Operations of Taby Group
LONDON, September 12, 2008 - Stolt-Nielsen S.A. (Oslo B?rs: SNI) announced today that it has signed an agreement to acquire the tank container operations of Taby Group. Taby Group, with annual turnover of about $120 million, is a privately held company headquartered in Hamburg, Germany. Taby currently operates a fleet of approximately 5,000 tank containers, including many specialised units for aggressive or high-purity products, and for compressed liquefied gases and cryogenics. Taby operates primarily in Europe, the US, South East Asia, China and Taiwan, and is currently focused on the development of emerging markets in Turkey, India, the Middle East and Brazil.
The transaction is expected to close in the fourth quarter, subject to the approval of German regulatory authorities.
Commenting on the transaction, Michael W. Kramer, President of Stolt Tank Containers, said, "The Taby Group is a well-managed company with a strong reputation for safety, quality and good service. The acquisition will expand both our specialised service capabilities and our global network. Taby's customers can expect a completely seamless transition, as we are fully committed to maintaining the strong long-term customer relationships that Taby has built over many successful years in business. The dedicated employees of Taby consistently perform to the industry's highest standards, and we look forward to welcoming them into STC's worldwide organisation."
Konrad Strauss, Managing Director of Taby Group, said, "We are pleased to have reached this agreement with Stolt Tank Containers. Our unique service concept and geographic focus strongly complement the capabilities of STC. Our customers, in turn, will have access to broader markets, and our employees will benefit from being part of a successful and growing organisation with a substantially larger global reach."
Stolt Tank Containers (STC) is the leading provider of door-to-door global logistics and transportation services for bulk liquid chemicals and food-grade products. Through its worldwide network of 15 offices, STC operates the world's largest fleet of stainless steel ISO tank containers, with nearly 21,000 currently in service, and manages more than 80 fleets of tank containers on behalf of its customers.
Jan Chr. Engelhardtsen
U.K. +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
U.K. +44 (0) 20 7611 8985
About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (SNSA or the "Company") is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through the parcel tanker, tank container, terminal, rail and barge services of its wholly owned subsidiary Stolt Tankers & Terminals and Stolt Tank Containers, provides integrated transportation solutions for its customers. Stolt Sea Farm, wholly owned by the Company, produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen is currently listed on the Oslo Stock Exchange.