Press release: TORM TAKES OVER CONTROL OF OMI VESSELS
Press release:
On 8 June 2007, A/S Dampskibsselskabet TORM (TORM) announced that TORM and Teekay Corporation (TEEKAY) had completed the acquisition of OMI Corporation (OMI), whereby OMI became a jointly owned subsidiary of TORM and TEEKAY.
TORM and TEEKAY have now finalized the plan for the distribution of OMI’s assets. TORM
will consequently with effect from 1 August 2007 take over 24 product tankers from OMI,
leaving TORM’s fleet at 85 vessels excluding newbuildings. TORM will also take over OMI’s
technical operations in India and a part of OMI’s organisation in the US. For technical reasons two product tankers will remain in TORM’s and TEEKAY’s joint operation in OMI until no later than the beginning of 2008, whereas the other OMI vessels will be taken over by TEEKAY, likewise with effect from 1 August 2007. The remaining assets of OMI including 2 product tanker newbuildings will be equally distributed between TORM and TEEKAY.
Contact Klaus Kjærulff, CEO, tel.: +45 39 17 92 00.