NYK Holding Europe is moving to take full ownership of Saga Welco, a company in which it currently holds a 50% share.
The remaining 50% stake is being acquired from Westfal-Larsen Group, giving NYK complete ownership of the open-hatch bulk carrier operator.
Saga Welco operates a fleet of 48 open-hatch vessels and offers worldwide semi-liner services, mainly from the east coast of South America. The company is active in the transport of forestry products, wind turbine blades, aluminium ingots, semi-finished steel products and a range of project cargoes.
NYK said the transaction will strengthen its global network and create new opportunities to expand its presence in sectors including forest products, offshore wind, high and heavy cargo, and project logistics.
The group described the acquisition as part of its wider “ambidextrous management” strategy, which aims both to reinforce existing core businesses and identify new areas of growth.
