Christian Salvesen to sell their German business

Christian Salvesen PLC today announces that it is in discussions regarding the possible sale of its German industrial logistics business. (4/17/2003)

Following the announcement of the business review in February 2003, Christian Salvesen PLC today announces that it is in discussions regarding the possible sale of its German industrial logistics business to its Managing Director for Germany, Mr Torben Sigenstrøm.

The Works Council has today been informed of the negotiations and a further announcement will be made in due course.

Salvesen has struggled recently and have closed operation centers in Mannheim, Hanover, Kircheim and Uentrop as well as downsizing the head office and reducing number of employees.