Rakkenes predicts TACA approval. (Atlantic Container Lines Inc. Chairman Olav Rakkenes; Trans-Atlantic Conference Agreement)

ACL chairman says agreement helped carrier turn profit in 1994. Carrier elects board members.

Atlantic Container Line's chairman predicts transatlantic carriers will eventually craft a conference agreement that will satisfy regulators.

Olav Rakkenes, chairman and chief executive officer of ACL, pointed out that reviews of the Trans-Atlantic Agreement by regulators in Brussels and Washington aren't expected to be finished until sometime in 1995.

But he told ACL shareholders at a special meeting in Gothenburg that TACA had succeeded in shoring up rates and helping ACL break into the black during the last year.

He said that despite the regulatory …