MELL ACQUIRED BY PIL
Date: March 18, 2015
Pacific International Lines, the 18th largest shipping company in the world, took major shareholder status in Marianas Express Lines (MELL) last March 10th, effectively buying out the Au family’s stake in the business. Luen Thai Holdings Limited (0311.HK), of which CTSI Logistics is a subsidiary, still retains its minority stakeholdership in MELL.
MELL is a container line operator specializing in niche markets within the Asia-Pacific region including Micronesia, Guam, Saipan, Papua New Guinea, Malaysia, and Australia. MELL also operates a container depot in Davao, Philippines. CTSI Logistics, Inc. operates as MELL’s agent in the Western Pacific and other countries in Asia.
In an announcement by PIL top managment, it was mentioned that Jimmy Setiawan will be managing MELL’s operation as its new General Manager.
PIC leadership assured MELL clients that it shall to continue to operate under the same brand and regular business operations will not be affected.