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Commercial Cold Storage To Acquire The Nordic Group.

Stone & Webster, Incorporated announced recently that it has reached a definitive agreement to acquire the stock of The Nordic Group, a leader in ownership and operation of public refrigerated warehouses throughout the Southeast. The Nordic Group, headquartered in Wilmington, NC, has eleven refrigerated facilities in North Carolina, South Carolina, Alabama, Mississippi and Ohio with 22.7 million cubic feet of frozen and refrigerated space.

Nordic will combine with Stone & Webster's wholly owned subsidiary, Commercial Cold Storage, Inc. (CCS). Commercial is a leading provider of refrigerated distribution capacity and services. Based in Atlanta, Commercial Cold Storage owns and operates one of the largest refrigerated warehouses in the world along with other facilities. The completion of this combination will position Commercial Cold Storage as the fifth largest public refrigerated logistics company in the United States and the ninth largest in the world.

"The assembling of The Nordic Group with Commercial Cold Storage exemplifies our commitment to expanded customer service, increased shareholder value and employee opportunity," said Doug Martin, President and Chief Executive Officer of CCS. "The Nordic Group provides a full suite of logistics services while maintaining one of the highest operating standards in the industry. Nordic's southeast locations are complementary to Commercial's and strengthens our capability to service new and existing customers with its blast freezing, import and export services as well as its unique transportation trucking and rail system. Nordic is the only public refrigerated distribution company that has a fleet of refrigerated railcars available East of the Mississippi River with point to point rail service, including to and from the ports."

The Nordic Group has developed a solid reputation in the refrigerated warehousing business and has an experienced group of employees. Bill Blair, III, President of The Nordic Group, stated; "The combination of these two operating companies will create a strategic foot print in the southeastern region of the United States. The opportunity to continue to expand the business as well as the ability to continue to offer more specialized services to our customers is what attracts The Nordic Group to Commercial Cold Storage."
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Comment:Commercial Cold Storage To Acquire The Nordic Group.
Publication:Frozen Food Digest
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 1, 1998
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