August 11, 2005
Maersk completes P&O Nedlloyd acquisition
Even in these days of giant containerships, "Maersk-Sealand-P&O-Nedlloyd" is a lot of words to paint on a hull.
A. P. Moller - Maersk A/S won't have that problem. This morning, it announced that its acquisition of Royal P&:O Nedlloyd is being completed today--and that after February 2006, Maersk Sealand and P&O Nedlloyd will be branded under the new name of Maersk Line. Maersk Logistics and P&O Nedlloyd Logistics will be integrated under the brand name of Maersk Logistics.
With completion of the deal Philip Green, Royal P&O Nedlloyd CEO, and David Robbie, Royal P&O Nedlloyd CFO, will step down. Philip Green will assist and work with A. P. Moller - Maersk A/S for a period during the integration. David Robbie has decided to leave shortly after settlement.
Eric Sisco, current Managing Director of Maersk Espana S.A. and Area Manager of Maersk's Iberia and Morocco Area (Spain, Portugal, and Morocco), will assume the position as CEO of Royal P&O Nedlloyd N.V.
P&O Nedlloyd will give notice of withdrawal to specified consortia and conferences shortly. Until February 2006 P&O Nedlloyd and Maersk Sealand will continue to operate as separate shipping lines. This is to offer customers stability of network and services throughout the coming peak season, to keep services and network intact throughout this year, and to honor P&O NedlloydĠs commitments to various conferences and consortia.