Nordic American Tankers Ltd. ("NAT"- (NYSE:NAT) to acquire Scandic American Shipping

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    • Jan 2009
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    Nordic American Tankers Ltd. ("NAT"- (NYSE:NAT) to acquire Scandic American Shipping

    (PR-inside.com)
    Hamilton, Bermuda, December17, 2012.Following an agreement between Scandic and NAT, NAT today announced that it willacquire 100% of the shares of Scandic, its management company since 2004. WhenScandic began actively managing NAT eight years ago, NAT owned three vessels.Today NAT owns 20 vessels. Scandic is currently owned by a company controlled byHerbjorn Hansson, NAT's Chairman and CEO, and his closest family. Under itsmanagement agreement with NAT, Scandic has administrative, commercial andoperational responsibility for NAT and is required to manage NAT's ..

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