New Branding for DFDS

New Branding for DFDS

The Norfolkline and Tor Line brands are set to disappear from the ferry market as part of DFDS’s plans for the future of the two companies.  Earlier this week, DFDS revealed it had completed the takeover Norfolkline’s ferry business in a deal estimated to be worth €300 million (US$387m). DFDS plans to “simplify” the structure of the company by getting rid of the DFDS Tor Line, Lys Line and Norfolkline brands and creating a new ferry business, DFDS Seaways, and DFDS Logistics, for its trailers, containers and inland supply chain business. Peder Gellert Pedersen will be in charge of DFDS Seaways, Eddie Green will lead DFDS Logistics and Henrik Holck will be in charge of a People and Ships unit. A spokesman said it was too early to say whether the merger would result in fewer services – as many in the industry hope will happen to reduce competition. The takeover of Norfolkline creates a ferry firm with a turnover of €1.5 billion, 6,000 employees and a fleet of 63 ships. DFDS part-financed the acquisition through the transfer of 4.2 million of its shares to AP Møller-Maersk, equating to a 28% stake in DFDS. DFDS CEO Niels Smedegaard said the reorganistaion would produce cost savings of between Dkr180 million (US$31m) and Dkr220 million a year. It is not expected the move will result in major job losses, as there is not much overlap between the two businesses.