Logistics provider Damco, is moving its headquarters from Copenhagen in Denmark to The Hague in the Netherlands in a move designed to bring it closer to the centre of the European logistics community.
Damco said the move would also enable it to optimise its cost structure, bringing it closer to the level of its primary competitors in the region.
The Maersk subsidiary wants to be a Top 5 industry player. CEO Rolf Habben-Jansen said: “In The Hague, we will be closer to many of our customers, our main air and sea carriers, Europe’s biggest transport hubs, as well as our competition and the kind of additional international logistics experience we’ll be looking to hire as we continue to grow.”
Damco’s EBIT has risen from $22m in 2009 to $97m. It is looking to grow sales from last year’s $2.8bn to about $5bn by 2015.
The move is expected to be completed in the first quarter of 2013.