|
Article Excerpt
ATHENS, Greece, Sept. 17 /PRNewswire/ -- Grandunion Inc., a company controlled by Michail S. Zolotas and Nicholas G. Fistes, announced today that it has entered into an Agreement with Aries Maritime Transport Limited ("Aries") pursuant to which Aries will issue 18,977,778 common shares to Grandunion in exchange for three capesize drybulk carriers.
Mr. Zolotas, executive director and President of Grandunion, stated, "We are pleased to have reached agreement with Aries and look forward to closing the transaction quickly. We anticipate that new management, a stronger balance sheet and a new strategy will improve Aries' operating and financial performance. We also plan to make changes to vessel management with the goal of improving vessel utilization and reducing costs. Finally, we anticipate that the Company will benefit from the network of relationships that we bring, including long-term relationships with leading financial institutions and industry leaders."
New Board...
|
|
More articles from PR Newswire
OG&E Seeks Regulatory Approval of Conservation, Efficiency Programs., September 17, 2009
Panasonic Corporation of North America Celebrates 50th Anniversary in ..., September 17, 2009
Wellman Products Group Recognized by Eaton Corporation as a Premier Su..., September 17, 2009
Delivery to PowerSouth Makes Rheem First to Utility Market With Heat P..., September 17, 2009
Verizon Business Global Mesh Network Investment Pays Big Dividends for..., September 17, 2009
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
