Eitzen Holding AS
TypePrivate
IndustryShipping
Private equity
Founded1883
Defunct2012 (2012)
HeadquartersOslo, Norway
Area served
Global
ParentEitzen family
Websitewww.eitzen-group.com

Eitzen Group was a shipping and investment corporation based in Oslo, Norway.[1] The parent company was Eitzen Holding AS and was entirely owned by the Eitzen family which owns Eitzen Invest and 53.7% of Camillo Eitzen & Co. The investment company owned a portfolio of real estate and other investments, including Hydranor and a major share of Norse Energy as well as in the fishing industry.

History

The company was founded in 1883 as Camillo Eitzen by shipmaster Camillo Eitzen. In 1894 Captain Henri F. Tschudi became a partner and the company changed its name to Camillo Eitzen & Co. The company bought its first steam ship a year later S/S UTO. In 1936 the company changed its name to Tschudi & Eitzen. It entered the ore-bulk-oil carrier segment in 1967. In 1990 the company bought the Danish company Skou International and entering the bulk segment. In 1997 it bought EAC Shipping and in 2001 KIL Shipping and with it entered the tanker sector. In 2004 the company changed name to Camillo Eitzen & Co and listed on the Oslo Stock Exchange when Tschudi & Eitzen merged and the separate company Eitzen Holding owned by the Eitzen family became established. The same year Navale Française was purchased along with Bergesen's Igloo gas fleet. In 2006 both Eitzen Chemical and Eitzen Maritime Services were created and listed on the Oslo Stock Exchange.

Demise

In 2011, Axel C. Eitzen stated that Eitzen Holding had been heavily indebted, and that he left the company and its assets to the banks.[2] The company among others faced a 700 million kr debt to the bank Nordea, and was liquidated in 2012.[3]

References

  1. ↑ "About Eitzen Group". www.eitzen-group.com. Archived from the original on October 25, 2008.
  2. ↑ Farberg, Andreas L. (22 June 2011). "Eitzen erklærer familieimperiet tapt". E24 (in Norwegian). Retrieved 9 November 2013.
  3. ↑ "Eitzen Holding slått konkurs". DN (in Norwegian). November 10, 2012.


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