Cosco outlines plan for new acquisition
Orient Overseas Container Line (OOCL) is to operate independently after its takeover by Chinese state-liner COSCO, according to reports.
Cosco’s OOCL takeover has seen its capacity rise by 68%, making it the third largest liner by capacity in the world, behind Maersk and MSC.
COSCO said in a statement: “Upon closing of the transaction, Cosco will hold the two liner companies simultaneously [and] the two liner companies will maintain existing operational models and management channels.
“The sales and customer service systems will remain unchanged to ensure service consistency.
“Meanwhile, back office functions such as cost control will be optimized step by step to improve operational efficiency and level of services.
“Both liners will continue to honour all ongoing promises and contracts. All signed contracts will remain in force to ensure the continuity of customer service.
“In the future, the two companies will face their customers with their own teams to carry out promotion and sales work with their respective products and services, sales channels and sales policies, and sign contracts with customers respectively.”
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