Stolt-Nielsen buys Taby tank container business

12 September 2008 14:45  [Source: ICIS news]

LONDON (ICIS news)--Stolt-Nielsen has agreed to acquire the tank container operations of Hamburg, Germany-based Taby Group for an undisclosed sum,the Norwegian chemical tanker firm said on Friday.

 

With an annual turnover of about $120m (€86m), Taby runs a fleet of 5,000 tank containers, including specialised units for aggressive or high-purity products, compressed gases and cryogenics, it added.

 

Operating mainly in Europe, the US, South East Asia, China and Taiwan, Taby was currently focused on the development of emerging markets in Turkey, India, the Middle East and Brazil, Stolt-Nielsen said.

 

The deal was expected to close in the fourth quarter, subject to the approval of German regulatory authorities, it said.

 

($1 = €0.72)

 

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By: Mark Watts
+44 20 8652 3214

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