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May 15, 2002
MOL (Europe) to Relocate Liner Division
Mitsui OSK Lines, Ltd. (MOL) has decided
to relocate its European liner headquarters
from London to Rotterdam, Netherlands effective
from 1st August 2002.
Since MOL opened its London office back in
1917, its European and West/South African
liner related business has been managed from
this office.
MOL has in the meantime undertaken a strategic
review of its future role in Europe for the
purpose of better responding to the needs
of our clients and taking the development
of the European Union, with its growing economic
potential, into consideration. The study
concluded that MOL's European headquarters
should be nearer to these markets on mainland
Europe for the following reasons:
1. MOL (Europe)'s headquarters should be
based on the Continent closer to the origin
and destination of the majority of our traffic.
Currently nearly 50% of MOL Liner traffic
to Europe is being routed through Benelux
ports. The MOL group has a number of its
logistics facilities, such as warehouses
and distribution centres operated by MOL
(Logistics), located in this region, and
these will further enhance the overall service
quality MOL will be able to provide.
2. Particularly with the inauguration of
the Eurozone, our belief is that the proportion
of traffic through the Benelux ports will
increase, as will the demand for intermodal
traffic. In addition, MOL foresee that the
expansion of Europe will increasingly be
Eastward with the proposed incorporation
of the former East Bloc countries into the
EC.
3. The costs of running the organisation
in London are significantly higher compared
with those in the near Continent. This reorganisation
will help MOL in further strengthening its
cost competitiveness, which enables the
company to continue to offer its high-quality
service to the Asia-Europe Trade
and Trans-Atlantic Trade.
Existing headquarters senior management in
London will relocate to Rotterdam and many
staff are being offered the opportunity of
relocation.
In the UK, the existing organisation for
sales and marketing will be maintained and
further strengthened to continuously offer
a high quality service.
We are confident that this change will enable
MOL to have better visibility over European
markets and make speedy and appropriate decisions
in response to the demands of our clients.
Address of new office:
Mitsui O.S.K.Lines (Europe) B.V.
Houtlaan 21, 3016 DA
Rotterdam
The Netherlands
Telephone : 31-(0)10-201-3200
Fax : 31-(0)10-201-3109
Website : www.molpower.com
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