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A CHANGE OF OWNERSHIP During the late 1940s the A.P. Moller-Maersk Group had bought shares in SVITZER to prevent it being acquired and broken up by fi nancial investors. In the 1970s the A.P. Moller-Maersk Group became the majority shareholder with an 80% holding. Since 1979 SVITZER has been a part of the A.P. Moller- Maersk Group. The change of ownership created only minor changes to SVITZER in the fi rst years. Management remained the same and SVITZER continued its existing activities and fi nancing investments from the company’s own capital. The most immediate change was that offshore expansion within the A.P. Moller-Maersk Group rested with Maersk Supply Services. SVITZER therefore did not pursue further development of its offshore activities beyond those already initiated. Tow-out of Maersk Line’s new 11,000 TEU container - ship EDITH MAERSK from Odense Steel Shipyard in Denmark. The SVITZER tugs NANA, MARS, MJØLNER, FREJA, FENJA, MENJA and NJORD assist in manoeuvring the large vessel in the narrow waters surrounding the shipyard. Since 1979 SVITZER has been a part of the A.P. Moller- Maersk Group, which engages in a variety of shipping activities as well as oil and gas exploration and production. Other activities include shipbuilding and retailing. The A.P. Moller-Maersk Group is a world-wide organization with 110,000 employees and offi ces in 130 countries. Its headquarters are in Copenhagen, Denmark. 56 S V I T Z E R – S A F E T Y A N D S U P P O R T AT S E A


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