December 15, 2010 [Odfjell/PortStorage Group] - Odfjell is currently mooting plans to substantially expand its terminal operations at its two locations in Rotterdam: Odfjell Terminals (Rotterdam) and Odfjell Terminals (Maritiem).
In order to fund these expansions Odfjell is considering alternatives how to refinance its global storage activities. Against this background Odfjell is looking for an equity partner to facilitate the desired expansion plan for its Rotterdam terminal operations. The potential partner will be allowed to take up a minority share in the two terminals.
At the end of last week a Rotterdam radio/TV station stated that Odfjell Terminal (Rotterdam) would possibly lay off personnel because a Chinese investor taking a stake of 49% in the company. Odfjell states that this information is completely incorrect and regrets that this news caused unrest amongst its employees.
