Source: Eimskipafelag Islands hf.

Integration and organizational changes in Eimskip Iceland

Organizational changes will be made in Eimskip Iceland today, with emphasis on integrating part of the Companies support units into strong centralized units along with sharpening the focus in customer service. As an example trucking services which today are operated in three locations will merge into one unit.

Considerable changes will be made in TVG-Zimsen where part of its support units will merge into similar divisions at Eimskip. TVG-Zimsen will move their operations to Vöruhótelið later this summer. TVG-Zimsen will continue to operate as an indepent subsidiary of Eimskip.

The main objectives of the changes are to streamline operations, increase profitability and to strenghten the Companies foundation for the future.

These changes will lead to reduction of 15 FTE‘s in Eimskip and TVG-Zimsen.

The changes will take effect as of May 2nd.

For further information - Edda Rut Björnsdóttir, Head of Marketing & Communications tel: +354 8253399 email: investors@eimskip.is