Norwegian vessel service and product provider Wilhelmsen Ships Service announced Tuesday that it had finalized an agreement with Illinois-based chemical and water treatment firm Nalco to buy subsidiary Nalfleet, a sales and technical service organization specializing in marine chemicals.
WSS, which already owns marine chemical firm Unitor, said in a statement that the acquisition of Nalfleet "will further strengthen and enhance the company’s marine chemicals offer to the maritime industry."
Financial details of the acquisition were not released.
Last week, WSS announced that former Nalfleet General Manager Graham Hunter will head up the WSS marine chemicals operations, effective Feb. 1.
Hunter will head a management team overseeing Nalfleet and Unitor and work toward developing WSS's position in the marine chemicals market.
“The Unitor and Nalfleet brands will remain and we are currently developing business and marketing strategies for both ranges of chemicals. Focus now is on ensuring a smooth transition for our customers and improving our global offer and customer solutions brought to the marine market,” Hunter said.
All Nalfleet business is expected to be transferred to WSS by the end of the first quarter. During a transition period set to last from Feb. 1., through the third quarter of 2011, WSS has frozen all chemicals prices.
“A time of transition and integration is demanding for everyone involved," President of Wilhelmsen Ships Service, David Tandy said.
"Nonetheless, I’m confident that we have the strength and organizational flexibility to take good care of our customers throughout the changeover. As a customer centered service organization it is key that we share synergies with our customers from day one; that is why we will now hold prices on chemicals.”
Tuesday, February 1, 2011
