FOR IMMEDIATE RELEASE
May 29, 1997



Jill Lawrence
VEDP
(804) 371-0049
Governor Allen Welcomes Virginia's Newest Transportation Company
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Richmond - Governor George Allen today announced that "K" Line America, Inc., an integrated ocean intermodal transportation company, will relocate its corporate headquarters from Murray Hill, New Jersey, to Henrico County, investing $8 million and creating 90 new jobs in Greater Richmond. In 1996, "K" Line located a national service center in Chesterfield County which has since hired over 135 employees. Virginia successfully competed with New Jersey for the relocation.

"On behalf of all Virginians, we welcome Mr. Abello, the highly respected 'K' Line America headquarters, and these great jobs to Virginia's growing prospering family of successful shipping and transportation companies," said Governor Allen. "I am very pleased that 'K' Line America has found that Virginia is the best place to conduct its highly respected business, and I am certain that 'K' Line will sail to even greater success as it increases its corporate presence in the Commonwealth."

Both "K" Line America and "K" Line Canada operate 27 offices throughout North America and are owned by the Japanese company Kawasaki Kisen Kaisha Ltd. "K" Line operates six weekly fixed-day sailings to and from the Pacific Northwest and Southwest as well as a weekly fixed-day sailing between Europe and North America offering direct connections to its own double stack train service covering the United States, Canada and Mexico. The company's coal carriers frequently call through the Port of Hampton Roads.

"We believe that relocating our headquarters to the Richmond area will provide 'K' Line with the optimum ability to grow, while continuing to provide excellent service to our customers within either a regulated or deregulated environment," said Oscar J. Abello, president and chief executive officer of "K" Line America, Inc.

The Virginia Economic Development Partnership, the Henrico County Industrial Development Authority and the Greater Richmond Partnership assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.


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