| November 27, 2003 |
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| "K"LINE Participating in Marine Transport of Cars
in China |
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Kawasaki Kisen Kaisha, Ltd. ("K"LINE) is participating
in the foundation of a new company named "Orient Sea Highway Services Co., Ltd." with
"China Shipping (Group) Company" headquartered in Shanghai, China.
On November 25, 2003, a signing ceremony for this joint venture contract took place at
Shanghai International Conference Center participated in by Messrs. Sakinaga, President of
"K"LINE, and Capt. Li Ke Lin, President of "China Shipping (Group) Company." |
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| This new joint venture corporation is aimed to respond to a
future increasing demand for marine transport of Chinese vehicles capitalizing on
synergetic effects created by combining "K"LINE’s marine transport technology gained
through its long-time experience and "China Shipping (Group) Company"s business
strength in the Chinese market. |
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| <Outline of the new Joint Venture Corporation> |
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Corporate Name |
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Orient Sea Highway Services Co., Ltd. |
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Capital |
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US$ 10,000,000 |
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Proportion of Capital |
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"K"LINE 49% : China Shipping
(Group) Company 51% |
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Location of Head Office |
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Shanghai, China |
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| For further details, kindly contact: |
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| Mr. Takumi Yoshii, Director & General Manager, Car
Carrier Planning & Development Group |
| Tel:03-3595-5411 / Fax:03-3595-5375 / |
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| Mr. Yasunari Sonobe, Manager, Strategic Business Team, Car
Carrier Planning & Development Group |
| Tel:03-3595-5447 / Fax:03-3595-5375 / |
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