News

08.10.207

Eimskip signs letter of intent to acquire 60% share in the Chinese container depot company Luyi Depot

Eimskip has signed a letter of intent to acquire a 60% of the total shareholding in the Chinese container depot company Luyi Depot. Luyi Depot was established in 2000 and its total base depot operational area is approximately 110,000 square meters – thus being the fifth largest in the Qingdao Port area.

Further, Eimskip has a call option to buy additional 20% share in Luyi Depot. Former owners will hold 40% share and will further develop the operation of Luyi Depot with Eimskip. 

Luyi Depot has a strong relationship with its customers which are big shipping lines, such as Maersk, CMA CGM and Yang Ming. 

Baldur Gudnason, CEO of Eimskip:
“We are experienced in developing successful business in Qingdao in co-operation with local companies. In this case we plan on building up another thriving business in collaboration with our reputable co-owners in Qingdao.”

The letter of intent was signed in Qingdao in the presence of the President of Iceland, Mr. Olafur Ragnar Grimsson and high level officials.

Further information: Baldur Gudnason, CEO tel: + (354) 525 7202

About Eimskip
Hf. Eimskipafelag Islands is one of the largest companies in Iceland and is publicly listed on the Icelandic Stock Exchange. The company has over 90 years of experience in providing transportation, warehousing and logistics services in Europe, primarily in the North Atlantic region. 

Operating with 200 locations around the world in over 30 countries with a total of 14,500 employees, Hf. Eimskipafelag Islands has global reach. It owns or operates 50 vessels, 180 cold-store facilities, 25 wide body cargo aircraft and 2,000 trucks and trailers.

Eimskip is traded on the Icelandic Stock Exchange under the symbol of HFEIM. To find out more about Eimskip, visit our website at www.eimskip.is.