Wallenius Wilhelmsen Lines AS (WWL) has today agreed to acquire 50% of Distribution and Auto Service, Inc. (DAS) from Nissan North America effective 1 May 2005. The acquisition also includes the DAS subsidiary, Annacis Auto Terminals, Ltd.
WWL is jointly owned by Wilh. Wilhelmsen ASA and Wallenius Lines AB, Stockholm.
The final purchase price will be determined later, but is estimated for the part of Wilh. Wilhelmsen ASA to be between USD 5 – 10 million. The annual turnover for DAS will be approx. USD 400 million. In the short run, it is expected that the effect on the results will be limited.
Together, DAS and Annacis Auto Terminals have 1 200 employees and handle 1.6 million vehicles annually.
The acquisition will strengthen WWL’s position as a market leader in finished vehicle supply chain logistics in North America.
» LInk to the complete press release from WWL