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02/07/2011

Trade agreement NAXCO and THORESEN GROUP

De Keyser Thornton Group / UNAMAR NV ANVERS nommé agent de EMKAY LINEIn last October 2010, NAXCO and Thoresen Groups entered in business relationships to develop ITA business and presence in Asia.

NAXCO Group announces that he has acquired 51% of ISS Thoresen Agencies Ltd (ITA) in Thailand through its affiliates NAXCO Asia Singapore and NAXCO Shipping and Logistics Thailand.

The Joint Venture Agreement has been signed on March 18. 2011 at Thoresen Group headquarter in Bangkok between respective Group CEO, M.L Chandchutha Chandratat (Thoresen) and G. Foucherot (NAXCO) and with the presence of Mr D. Ames Director of Thoresen Transport Group division and Mr Steve Lee, Managing Director of ISS Thoresen.Agencies.

Speaking on the new Joint Venture:

“Both CEO agree that, by sharing the same code of conduct, business vision and philosophy, the Joint Venture will undoubtedly contribute to strengthen operational services in Thailand and achieve further growth in new segments of business.

ITA needs to be part of a larger organisation that more closely aligns the service requirements of its key customers with affiliates of such NAXCO organisation.

ITA has the capacity to expand its role in South East Asia as a comprehensive service and logistics provider and NAXCO will position ITA in new markets where ITA is not currently involved.

NAXCO has a good network that would complement ITA‘s existing client base and a growth oriented strategy to expand its business in the region.”


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