Shipping firm restructures

Press, 15 April 1980, Page 7

Shipping firm restructures

PA Wellington Big changes in the corporate structure of the Union Steam Ship Company have been announced by the group's managing director (Mr J. N. Keeg3He explained why the name of the holding company of the Union Steam Ship Company — Tasman Union, Ltd, was changed to the Union Shipping Group, Ltd. “All the group’s interests will be owned through this holding company, With each of the operating subsidiaries responsible for its own development and future expansion,” he said. . The restructuring would give a better corporate platform for development and growth while not affecting the public or existing services. Under the new structure

the Union Steam Ship Company of New Zealand, Ltd, would have full profit responsibility for running the group’s fleet, the marketing of its services, and the management of ships of other owners, and of sea-going equipment. Union Maritime Services would be responsible for all shore services for the Union Steam Ship Company. ' Union Travel, Ltd, would be responsible for activities run by the travel division.

Union Engineering, Ltd, would be responsible for the group’s marine repairs and engineering, including the Nelson-based Anchor Dorman group of companies, Mr Keenan said. The responsibility for the group’s activities would remain with the general manager of the Union Steam Ship Company (Mr D. C. Jury).