EC approves merger of NYK, LauritzenCool.(European Commission, NYK Reefers, LauritzenCool AB)(Brief Article)

NYK Reefers and LauritzenCool have received clearance from the European Commission to merge their refrigerated container businesses.

The new company, NYKLauritzenCool AB, equally owned by NYK Reefers and J. Lauritzen, the parent of LauritzenCool, will be one of the world's largest reefer carriers, operating more than 70 specialized reefer vessels totaling between 300,000 and 760,000 cubic feet capacity, in all major trades.

The two companies at the beginning of the year agreed on a memorandum of understanding to merge their activities, following a strategic cooperation and vessel-sharing agreement launched in January 2004.

NYKLauritzenCool AB will …