TransAtlantic acquires Finnish shipping company Merilinja

Swedish shipping company TransAtlantic views the acquisition as a unique opportunity to improve its competitiveness.

The Swedish shipping company TransAtlantic has acquired the operations of the Finnish shipping company Merilinja which operates between Finland and Belgium. Merilinja offers feeder services within container shipping between the Finnish cities Kokkola and Oulu, and Antwerp in Belgium. Merilinja’s annual revenues are approximately SEK 100 million.

“We are very excited to acquire Merilinja’s broad and sizeable customer base. Combined with TransAtlantic’s existing activities, this gives us a unique opportunity to improve our competitiveness between northern Finland and Belgium,” says Heléne Mellquist, CEO Industrial Shipping, TransAtlantic.

Boost to competitiveness

In the deal TransAtlantic purchases all of Merilinja’s assets, including its customer contracts, and assumes Merilinja’s chartered-in vessels. Thanks to the acquisition, TransAtlantic expects to increase and improve its services in the market to existing and new customers. “We should also be able to grow this business based on the improved competitive position,” says Mellquist.

Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden. The company has about 900 employees and its turnover in 2011 was SEK 2.989 billion. Its Industrial Shipping business area consists of four divisions: Bulk, Container, RoRo Baltic and Short Sea Bulk. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment.

Source: TransAtlantic