COSCO Overseas Control today resumed its commitment to oriental overseas independent business status
- Author:Cynthia
- Source:Sunny Worldwide logistics
- Release Date:2017-07-27
According to the shipping industry network reported that COSCO Hai control today (July 26) resumption of trading, commitment to the independent status of overseas business overseas.
COSCO Shipping Group and other affiliated companies will not take any action or measures to engage in the business of COSCO and its subsidiaries in the announcement of Zhongyuan Shipping Control Co., Ltd. in the announcement of how to ensure that OOCL operates independently in Hong Kong. Constitute or may constitute a substantial competition in the business activities, and will not infringe the legitimate rights and interests of COSCO and its subsidiaries, including but not limited to the future establishment of other subsidiaries or joint ventures, associates engaged in COSCO and its subsidiaries The main business constitutes a substantial competition in the business, or in other ways directly or indirectly involved in COSCO and its subsidiaries of the existing main business.
COSCO Shipping Group and other affiliated companies will not take any action or measures to engage in the business of COSCO and its subsidiaries in the announcement of Zhongyuan Shipping Control Co., Ltd. in the announcement of how to ensure that OOCL operates independently in Hong Kong. Constitute or may constitute a substantial competition in the business activities, and will not infringe the legitimate rights and interests of COSCO and its subsidiaries, including but not limited to the future establishment of other subsidiaries or joint ventures, associates engaged in COSCO and its subsidiaries The main business constitutes a substantial competition in the business, or in other ways directly or indirectly involved in COSCO and its subsidiaries of the existing main business.
Second, if the tender offer is successfully implemented, OOCL will become a wholly-owned subsidiary of COSCO Marine and COSCO Shipyard, a wholly-owned subsidiary of COSCO Marine Group, which is located in the United States of America, Operational business, the business may have a certain competitive relationship.
In the five months after the completion of the transaction, COSCO Shipping Group will solve the problem of competition in the same industry in an effective way such as asset reorganization and business integration under the conditions approved by the domestic and foreign regulatory authorities.
In addition to the above circumstances, such as COSCO Maritime Group and other subsidiaries may be in the future and COSCO Marine control in the main business of substantial competition or COSCO marine control occurred in the real interests of the conflict, COSCO Shipping Group will give up or will promote the group Control of the company to abandon the possible competition with the business opportunities, or in the domestic and foreign regulatory authorities recognized the conditions, at the appropriate time to asset restructuring, business integration and other effective ways to solve the problem of competition with the industry.
Thirdly, COSCO Shipping Group will not use any information known or understood from COSCO Marine to assist third parties in engaging in or participating in any business activities that are subject to substantial competition or potential competition with COSCO Marine's existing business.
In the previous July 9 announcement, COSCO Shipping and the Hong Kong Group have pledged to continue to employ existing employees overseas and maintain the existing pay and benefits system for at least two years after the transaction. In addition, the joint bidder intends to retain the listing status of Orient Overseas in Hong Kong, and will remain in Hong Kong's overseas headquarters and management functions remain in Hong Kong; COSCO will further play both sides of the global network advantages for Hong Kong's economic prosperity and The construction of the international shipping center has a role to play.
In the five months after the completion of the transaction, COSCO Shipping Group will solve the problem of competition in the same industry in an effective way such as asset reorganization and business integration under the conditions approved by the domestic and foreign regulatory authorities.
In addition to the above circumstances, such as COSCO Maritime Group and other subsidiaries may be in the future and COSCO Marine control in the main business of substantial competition or COSCO marine control occurred in the real interests of the conflict, COSCO Shipping Group will give up or will promote the group Control of the company to abandon the possible competition with the business opportunities, or in the domestic and foreign regulatory authorities recognized the conditions, at the appropriate time to asset restructuring, business integration and other effective ways to solve the problem of competition with the industry.
Thirdly, COSCO Shipping Group will not use any information known or understood from COSCO Marine to assist third parties in engaging in or participating in any business activities that are subject to substantial competition or potential competition with COSCO Marine's existing business.
In the previous July 9 announcement, COSCO Shipping and the Hong Kong Group have pledged to continue to employ existing employees overseas and maintain the existing pay and benefits system for at least two years after the transaction. In addition, the joint bidder intends to retain the listing status of Orient Overseas in Hong Kong, and will remain in Hong Kong's overseas headquarters and management functions remain in Hong Kong; COSCO will further play both sides of the global network advantages for Hong Kong's economic prosperity and The construction of the international shipping center has a role to play.
With the combination of COSCO Shipping (COSCOCS) + OOCL (OOCL), the capacity of COSCO Shipping fleet has been leaps and bounds, and in addition to the overseas sales network of the Orient Overseas International, Customers and advanced management capabilities. COSCO Shipping capacity of shipping will be among the global leadership, greatly shorten the gap with the industry leading companies, industry status and voice significantly improved.
As COSCO Shipping and Oriental Overseas International belong to the shipping industry, the two companies in different regions of the route and service overlap is high, so the future in the network and fleet structure optimization will have a strong synergistic effect; In addition, in the container box Team integration, supplier-related cost optimization, management costs and information system optimization, and so has a more obvious synergies.
In terms of performance, the two major container shipping companies will maximize the advantages of resources, but also help COSCO marine control absorption. Advanced business philosophy and management experience, the two companies had each other's blank spots and short board will be added and improved.
In the long run, the integration, annexation and reorganization of the industry continues. The market synergies between Orient Overseas and COSCO Shipping will proceed to the United States President's Steamships and Ferry ships, and the two super brands The hand will certainly rub out the same sparks.
As COSCO Shipping and Oriental Overseas International belong to the shipping industry, the two companies in different regions of the route and service overlap is high, so the future in the network and fleet structure optimization will have a strong synergistic effect; In addition, in the container box Team integration, supplier-related cost optimization, management costs and information system optimization, and so has a more obvious synergies.
In terms of performance, the two major container shipping companies will maximize the advantages of resources, but also help COSCO marine control absorption. Advanced business philosophy and management experience, the two companies had each other's blank spots and short board will be added and improved.
In the long run, the integration, annexation and reorganization of the industry continues. The market synergies between Orient Overseas and COSCO Shipping will proceed to the United States President's Steamships and Ferry ships, and the two super brands The hand will certainly rub out the same sparks.