Hf. Eimskipafélag Íslands merges with its subsidiary Eimskipafélag Íslands ehf.

The Board of Directors of Hf. Eimskipafélag Íslands has approved to merge Hf.Eimskipafélag Íslands and its subsidiary Eimskipafélag Íslands ehf. The subsidiary will merge into the parent company that will take over all duties and liabilities of the subsidiary. 

The merger will be finalised within two months effective from 1 November 2006. As the subsidiary is 100% owned by the parent company this will have no effects on the consolidated financial statements. The objective with the merger is to simplify the operation and increase efficiency.