MGH Combifragt will become Eimskip's agent in this area and will continue to work with Eimskip and its subsidiaries as before. Services provided for Eimskip's customers in Riga and Tallinn will remain the same after the change. The offices have a staff of 35 and will remain in the same locations, with mainly the same staff. Eimskip's subsidiary MGH in Riga will continue to operate as a holding company and lease company owned property in Riga.
Eimskip's operations in Riga and Tallinn began in 1991 when MGH in the UK opened an office in Riga. An office in Tallinn was opened in 1994 and in Russia in 1995, but the offices in Russia were closed after the economic crisis in 1998. The operations in the Baltics have been difficult since 1998 and have been scaling down since then.
These changes will have an insubstantial effect on Eimskip's operations this year but are expected to have a positive effect in 2002.
Jóhann V. Ólafsson has been General Manager of MGH and will now take over as General Manager of Eimskip Canada Inc. at the beginning of next year. Óskar S. Friðriksson, who is currently General Manager of Eimskip Canada Inc. will transfer to Eimskip in Reykjavik
