Kiwi Car Carriers To Amalgamate

MEDIA INFORMATION

10 DECEMBER 2007

Kiwi Car Carriers To Amalgamate With Norwegian Shipping Group

New Zealand’s largest used vehicle shipping company, Kiwi Car Carriers, is to merge with its Norwegian owners, Höegh Autoliners, effective from 1 January 2008.

The merger is designed to integrate the resources of the two companies and streamline operations, which will lead to increased efficiencies and deliver improved services to customers.

Mr Terry Riches, CEO of Kiwi Car Carriers, says: “The timing is right for our organisations to come together and work more closely, sharing the best practices with our Japanese, New Zealand and Australian operations. There will be no changes to management or staff in New Zealand and Australia.”

Kiwi Car Carriers, a market leader in the shipment of used vehicles from Japan to New Zealand and Australia, was acquired by Höegh Autoliners in 2001 and has continued to successfully operate as a subsidiary under its own brand. Whilst it will no longer be a subsidiary, the Kiwi Car Carriers brand will continue to be used in New Zealand and Australia, as the name has become iconic within the vehicle industry and carries a lot of value, adds Mr Riches.

The official name of the company will change to Höegh Autoliners (NZ) Limited, which will represent both the Kiwi Car Carriers and Höegh Autoliners trademarks in the New Zealand and Australian markets.

Kiwi Car Carriers operates a fleet of three dedicated RoRo (Roll-on Roll-off) vehicle carrying vessels, transporting used cars and commercial vehicles from Japan to five New Zealand ports (Auckland, Tauranga, Napier, Wellington and Lyttelton) on a regular basis, as well as calling into Brisbane. Kiwi Car Carriers has been servicing the New Zealand automotive industry for over 12 years and has shipped more than 600,000 units in that time.

Höegh Autoliners is a leading provider of sea-borne transportation services to the global car manufacturing industry and to customers transporting high and heavy rolling stock. The company operates a fleet of 67 modern vehicle carriers and carries around 1.9million Equivalent Units (CEUs) annually. Headquartered in Oslo, Norway, it has a network of 30 subsidiary and representative offices worldwide, with 550 employees ashore and 1500 seafarers. Founded in 1927, Höegh Autoliners has a turnover of close to US$1billion.

Mr Niels Ronald Bugge, Oslo-based Executive Vice President of Höegh Autoliners AS, is confident the merged organization will deliver “improved logistical services to the benefits of our customers”.

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