FESCO is restructuring container business

13 January 2011
Dear FESCO Partners and Clients! In accordance with the updated development strategy of FESCO Transportation Group a united logistics integrator is being established within the Group. The entity will be responsible for the management of all the Group businesses and Companies involved into provision of various container services.

The said integrator will control all container-related services, including container transportation by sea, railway and automobile transport, terminal handling, as well as the integrated logistics services, intermodal transportations and reefer cargo shipments.

The main objective of the restructuring is increasing the efficiency and competitiveness of the FESCO Transportation Group container business and further improvement of customer service. New structure aims to guarantee the achievement of this strategy by means of consolidation and vertical integration of container business management in the single entity, with united standards of business, operational and planning management and, in the future, with the united client interface.

The logistics integrator will be established on the basis of «FESCO Integrated Transport» (FIT).

The implementation of this project will include the following changes of FESCO business management structure:

— merger of «FIT» LLC, «FLV» LLC and ZAO МАК «Transfes» businesses into «FIT» LLC;

— management control by FIT through Boards of Directors over several other FESCO companies involved in container transportation and terminal handling services to ensure best possible satisfaction of client’s needs under current market situation.

Container business of FESCO Transportation Group container will be managed by Sergey v. Kostyan, recently appointed as Vice President for Commerce and General Director of «FIT» LLC.

As of the 18th of December 2010 Sergey Grigorenko, formerly General director of «FIT» LLC, is appointed Managing Director of «FIT» LLC.

As of the 11th of January 2011 Dmitry Kurdakov is appointed Managing Director of «FLV» LLC and Director of «FIT» LLC Vladivostok Office. At the same time Dmitry Y. Kurdakov continues fulfilling the duties of ZAO МАК «Transfes» General Director.

Best regards, President S.v. Generalov