Wallenius Wilhelmsen Logistics (WWL) owners Wallenius and Wilhelmsen have signed a letter of intent to establish a new ownership structure for their jointly owned entities WWL, EUKOR and ARC, and the majority of their vessels, assets and liabilities, introducing a new entity to be named Wallenius Wilhelmsen Logistics ASA (WWL).
Craig Jasienski, currently CEO of EUKOR Car Carriers, will lead the team responsible for planning the setup of the new company and will become CEO upon completion of the transaction. To facilitate the transition process, Mr Jasienski takes on a dual CEO role for Wallenius Wilhelmsen Logistics and EUKOR Car Carriers.
“The Car and Ro-Ro shipping markets have changed significantly in recent years. Today we face a fragmented and volatile market, requiring more complex and costly operations, combined with downward pressure on prices. With this new proposed structure we can realise significant operational and commercial synergies, creating an efficient and agile platform for future growth,” said Mr. Jasienski.
In contrast, WWL’s Land based logistics, which includes port and plant based vehicle processing for autos and heavy equipment, marine terminals, and inland transportation has grown strongly over recent years, developing into a billion dollar, global operation of integrated logistics. To ready the business for further development, Christopher J. Connor, President & CEO of WWL since 2013, has been appointed Chairman Wallenius Wilhelmsen Land Based Holdings. “We’ve experienced rapid growth in the land based arena over the last decade. The strategic review process will get us ready to continue that pace over the next decade”, says Mr. Connor.