June 26, 1997

Jill Lawrence
(804) 371-0049
Maersk Line Limited to Relocate Headquarters to Norfolk
-- Denmark Deal Lands 98 New Jobs, Increases Service with Port of Virginia --

London, England - Governor George Allen today announced that Maersk Line Limited (MLL), an international containerized transport company, will relocate its corporate headquarters to Norfolk and create 25 new jobs. The Governor also announced today that Maersk will inaugurate a new service with the Port of Virginia, accepting vessels from the company as they travel from the Gulf of Mexico to the Mediterranean Sea. The agreement will increase tonnage through the Port approximately 135,000 tons annually, creating 73 new jobs.

"On behalf of all Virginians, we welcome Maersk Line Limited's headquarters, and these great jobs, to Virginia's growing, prospering family of successful shipping and transportation companies," said Governor Allen. "Virginia boasts one of the most efficient, seamless transportation networks in the world, it's natural a company with the international reputation of Maersk would choose Norfolk as its new home."

The Governor made the announcement today following a meeting with Knud Pontoppidan, Executive Vice President of A.P. Moller, the parent company of MLL which currently employs 170 people throughout Virginia. The A.P. Moller Group is the world's largest provider of containerized transport solutions and has 250 offices in over 70 countries worldwide.

Economic ties between the Netherlands and Virginia are very strong, and accounted for $202.6 million in exports during 1996. Figures through 1996 show cumulative Dutch investment in Virginia totaled $206 million, representing 24 enterprises and 1,500 jobs.

Governor George Allen and First Lady Susan Allen are currently leading a 15 day trade and investment mission to Germany, Denmark, the Netherlands and the United Kingdom. More than 40 Virginia business leaders are joining them for all or part of the mission.

Governor Allen has outlined four major goals for the mission; 1) seek additional foreign investment for Virginia; 2) provide an increased understanding of European business markets and expanded trade opportunities to Virginia business executives; 3) promote shipping through Virginia ports; and 4) market Virginia as an inviting destination for tourists.

Since 1994 Governor Allen and First Lady Susan Allen have led business delegations on six trade missions to Canada, Mexico, Europe, East Asia and the Middle East. These missions have produced more than $112 million in new investments and over $64 million in sales of Virginia products and services.

The Governor and First Lady are scheduled to return on June 28.

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