Posted at 1:53 p.m., Friday, May 4, 2007
Horizon Lines says it will buy Hawaii Stevedores
Advertiser Staff
Horizon Lines, Inc. today announced the company intends to purchase Honolulu-based Hawaii Stevedores, Inc. although terms of the transaction were not disclosed.Both companies cite "strategic synergies, employee stability, operational efficiencies and cost savings as the driving factors in Horizon Lines' acquisition of HSI," according to a news release from Horizon. Hawaii Stevedores will operate as a Horizon Lines subsidiary and intends to maintain all HSI stevedoring contracts and any existing labor contracts.
"We have enjoyed a great relationship with HSI and believe this move will place both companies in the best position to grow with the Hawaiian markets," said Mar Labrador, Vice President and General Manager, Hawaii and Micronesia Division for Horizon Lines. "
We look forward to retaining the existing staff so we can continue to offer the quality of performance our trade has come to expect," Labrador said.
He said the stevedore company and its customers will benefit from being part of a world-class transportation company, with a wide-range of services.
Hawaii Stevedores Inc. President and CEO Randy Grune said the combination will be a good one. "HSI has a long history of outstanding service, and coupled with the resources and strengths of Horizon Lines we can create the best choice for stevedoring in Hawaii," he said.
