CMP set for Baltic expansion

29 April 2008

The board of CMP decided at its latest board meeting that the time is ripe for growth in the Baltic Sea region. Expansion is consistent with the current company strategy and will be achieved either by partnerships, mergers with other port and terminal operators or acquisitions.

As a consequence, the board, after due consultation with Managing Director Lars Karlsson, has decided that he will step down from his current post at the general meeting in 2009 and devote himself full-time to developing CMP in the Baltic. He will report directly to the chairman and deputy chairman of the board.

The board has also set in motion the process of finding a suitable successor to Lars Karlsson as managing director.

"The board is extremely pleased that Lars Karlsson has agreed to continue his involvement in Copenhagen Malmö Port AB when he steps down as managing director next year. The potential for development in the Baltic is great, and nobody is better suited to take on this challenge than Lars Karlsson," commented Bengt Madsen, the chairman of the board.

The increasing demands for cost-effective and environmentally-friendly transport make it even more important that CMP plays a part in significantly larger networks if the company is to retain and develop its strong market position. The industry trend is very much for port and terminal operators to work together in larger and more cost-effective constellations.

Since the company was founded in 2001, CMP has built up a strong position from its base in the Øresund Region. The next step in the development process will be Baltic expansion.

"The possibility of expansion in the Baltic has been part of the vision ever since CMP was formed, so I am greatly inspired by this opportunity to help implement the vision and build an even stronger CMP," Lars Karlsson said.

Copenhagen Malmö Port AB (CMP) was formed in May 2001 when the commercial parts of the port operations in Copenhagen and Malmö merged.

CMP is one of the biggest port and terminal operators in Scandinavia with an annual freight turnover of approximately 18 million tons. CMP is divided up into five business areas: containers, cars, Ro-Ro, oil & bulk and passenger & cruise ships. CMP has 525 employees.
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