CP Ships Continues Buying Spree with ANZDL Acquisition
By Staff -- Logistics Management, 10/1/1998
CP Ships, a division of Canadian Pacific Corp., surprised the maritime industry again last month by making yet another acquisition that expands the company's reach into new trade lanes.
The London-based carrier announced that it had signed an agreement to acquire Australia New Zealand Direct Line (ANZDL) from its owners, SCAC Delmas Vieljeux of France and New Zealand's Brierley Investments. The transaction will include ANZDL's U.S. West Coast-Australia/New Zealand and Trans-Tasman trade lanes.
Long Beach-based ANZDL has been in business since 1984; it was acquired by Delmas in 1988 and in 1997 became part of a joint venture between Delmas and Brierley. The company operates seven chartered container ships and two chartered roll-on/roll-off vessels. ANZDL's container fleet includes 20,344 TEUs (20-foot equivalent units).
With the acquisition of ANZDL, CP Ships will see an increase of nearly 15 percent in container volumes and revenues. It also will gain a carrier with a reputation for excellent customer service and a focus on internal quality management.
The buyout reinforces CP's strategy of expanding into new trade lanes by acquiring carriers that are well established in local markets, then consolidating its market position by taking advantage of complementary services offered by its subsidiaries. CP subsidiary Contship Containerlines already operates services to Australasia from Europe and the U.S. East and West Coasts. "With ANZDL as part of the group, CP Ships will now lead the field in three key regional markets--the North Atlantic, Latin America, and Australasia," says CP Ships CEO Ray Miles.
CP Ships' latest acquisition continues a remarkable three-year buying spree. Since 1995, the carrier has bought Cast North America, Lykes Lines, Contship Containerlines, and now ANZDL. CP also is in the midst of finalizing an arrangement with Transportacion Maritima Mexicana, which will make CP one of the largest container operators in Latin America.
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