AsiaContainers
NYK Line takes full control of its Vietnam subsidiary
NYK Line has announced that it has purchased the 49% equity shares in NYK Line (Vietnam) from its local joint venture partner VOSA Group of Companies and NYK Line (Vietnam) has become a wholly owned subsidiary of the company.
NYK Line set up in Vietnam nine years ago under a joint venture agreement. Recently the Vietnamese government approved the company’s application to fully control its Vietnamese subsidiary.
NYK Line carries about 300,000 teu to and from Vietnam annually, connecting the country to the world through 12 direct liner services.