Swedish owner Transatlantic has decided to terminate the sale of its Atlantic division. According to Transatlantic’s president Anders Källström the decision is taken to create stability for the customers. “Our customers are making plans for the post-economic crisis period and must thus feel confidence regarding the future ownership of the Atlantic division,” says Källström in a statement.
It is not a question of a strategy shift but of timing.
“We took the decision to sell in September last year, before Lehman Brother collapsed and the financial crisis accelerated”, says Källström to Shipgaz.
“We have several interested parties, but the time is not right to sell”.
The Atlantic division consists of eight vessels that generated a SEK 527 million turn-over and a SEK 12 million result in 2008. In Q1 this year, revenues reached SEK 125 million and the division posted a SEK 8 million loss.
It is not a question of a strategy shift but of timing.
“We took the decision to sell in September last year, before Lehman Brother collapsed and the financial crisis accelerated”, says Källström to Shipgaz.
“We have several interested parties, but the time is not right to sell”.
The Atlantic division consists of eight vessels that generated a SEK 527 million turn-over and a SEK 12 million result in 2008. In Q1 this year, revenues reached SEK 125 million and the division posted a SEK 8 million loss.