Danish family-owned conglomerate United Shipping and Trading Company (USTC) launches a new five-year strategy aimed at delivering better alignment of its subsidiaries.
USTC is one of Denmark’s leading companies with subsidiaries in, among other things, shipping, energy, and logistics.
The new strategy, spearheaded by Nina Østergaard Borris, includes a formalised approach to future acquisitions, putting alignment of company values with prospect acquisitions, as well as clear and profitable synergies between existing Group portfolio as the first roadblock, the company said in a statement on its website on Thursday.
“With our new strategy we are simplifying the path towards future acquisitions being in line with the values of the owner family and the direction we want our company to pursue,” said Nina Østergaard Borris, chief executive, and co-owner of USTC.
The new USTC strategy is launched a year after co-owner and chief executive Nina Østergaard Borris became CEO, succeeding her father, Torben Østergaard-Nielsen.
“We want to underline the common belief system within USTC,” Torben Østergaard-Nielsen, USTC’s founder and chairman of the board of directors noted.
“Up until now, we have maintained the individual identity of each of our companies, and we want to keep it that way; however, being part of USTC should also create a 2 plus 2 equals 5-situation, where our companies and colleagues experience an added value due to the common ownership.
“We act within different industries but stand on common ground.”
Bunker Holding is one of the main subsidiaries and financial cornerstones of the United Shipping and Trading company.
After decades as the sole owner of Bunker Holding, Torben Østergaard-Nielsen, working chairman, founder, and co-owner of USTC, has with the advent of the bunkering giant’s parent companies USTC and Selfinvest, introduced his daughters as his successors in the companies that he spent a lifetime building.
“Together, Nina and Mia will carry on developing the organisation while ensuring that the family values will continue to guide the company. As founder and co-owner and in my new role as working Chairman of the Board of USTC, I will remain close to the business and stay very active in owner-related decisions surrounding USTC,” said Torben Østergaard-Nielsen.
