LONDON, March 18, 2003 (PRIMEZONE) -- Stolt-Nielsen S.A. (Nasdaq:SNSA) (Oslo Stock Exchange:SNI) today announced that Elemica has signed a definitive agreement to acquire SNSA's subsidiary Optimum Logistics Ltd., the leading global marine logistics solution in the chemical industry. Under the terms of the agreement, Elemica will acquire the full technology platform and the ongoing business operations of Optimum Logistics. Elemica will integrate Optimum's technology into the current Elemica platform to launch a global ground, rail, container, and marine logistics solution for Elemica Network companies and will expand its Network to include logistics service providers, terminal and warehouse operators, and freight forwarders.
Current Optimum Logistics' client, Lyondell Chemical Company Vice President for Supply Chain, Jeffrey L. Hemmer stated, "One of Lyondell's supply chain objectives is 'touchless fulfillment.' Our desire is to establish a virtual enterprise where we collaborate with our business partners to optimize the overall supply chain. We worked extensively with Optimum Logistics to develop a marine logistics information solution and believe it has tremendous potential to become the leading multi-modal technology solution for the chemical industry."
Elemica Network member, Rick Gerardo, Vice President of Global Supply Chain at The Dow Chemical Company commented on the acquisition stating, "We view the acquisition of Optimum Logistics by Elemica as a positive move for the chemical industry. Dow currently uses this solution as part of a joint venture and is enthused that Elemica will integrate this logistics platform into the Elemica offering."
Elemica's Senior VP of Global Supply Chain and Logistics, Chuck Gruber said, "Elemica's proven ability to integrate the different systems of its 50-plus members combined with the Optimum Logistics best in class solution is a winning combination. As we worked with Optimum's offering in the maritime environment, it became obvious that the same functionalities could be applied to other modes. We then realized we could best deliver those capabilities by aligning even more closely with Optimum Logistics."
Niels G. Stolt-Nielsen, CEO of SNSA said, "In early 2000, we formed Optimum Logistics with the goal of capitalizing on our perceived expertise in the area of logistics software for the bulk liquid industries. As our relationship with Elemica developed, we also came to the realization that Optimum's software and its loyal customer base will be best served in the hands of Elemica. Our subsidiary, the Stolt-Nielsen Transportation Group, looks forward to continuing to be one of the leading logistics service providers on the Elemica Network."
Stolt-Nielsen S.A. is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through its parcel tanker, tank container, terminal, rail and barge services, provides integrated transportation for its customers. The Company also owns 63 percent of Stolt Offshore S.A. (Nasdaq:SOSA) (Oslo Stock Exchange:STO), which is a leading offshore contractor to the oil and gas industry. Stolt Offshore specializes in providing technologically sophisticated offshore and subsea engineering, flowline and pipelinelay, construction, inspection, and maintenance services. Stolt SeaFarm, wholly owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar, bluefin tuna, and tilapia.