Wallenius Wilhelmsen acquires remaining shares in Armacup

Wallenius Wilhelmsen has acquired the remaining shares in New Zealand shipping concern, Armacup, bringing the shareholding percentage from 65% to 100%. 

Armacup is a New Zealand-headquartered shipping company that has pioneered the Japanese used car trade since the 1980s. 

Armacup has since then expanded its position in the Asia-Oceania trade, servicing all three main export markets; Japan, China and South Korea.

“This acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup. It is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia,” said Xavier Leroi, chairman of the board at Armacup.