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August 02, 2015 5:06 AM ET

Marine

Company Overview of Matson Navigation Company, Inc.

Company Overview

Matson Navigation Company, Inc. provides ocean freight transportation services. The company offers ocean, intermodal, and logistics transportation services. It also provides containerized freight and automobiles services between the West Coast and Hawaii, and Guam and Mid-Pacific. In addition, it offers container stevedoring, and terminal and equipment maintenance services. The company also provides container and chassis leasing services. The company was founded in 1882 and is based in Oakland, California. Matson Navigation Company, Inc. operates as a subsidiary of Matson, Inc.

555 12th Street

7th Floor

Oakland, CA 94607

United States

Founded in 1882

Phone:

510-628-4534

Fax:

510-628-7380

Key Executives for Matson Navigation Company, Inc.

Chief Executive Officer and President
Age: 53
Vice President of Government and Community Relations
Vice President of Transpacific Services
Compensation as of Fiscal Year 2015.

Matson Navigation Company, Inc. Key Developments

Matson Navigation Company, Inc. Announces Tender Offer, Consent Solicitation for Horizon Lines, Inc.'s Convertible Notes

Matson, Inc. announced that its wholly-owned subsidiary Matson Navigation Company, Inc. has commenced a cash tender offer and consent solicitation for any and all of the approximately $2 million outstanding principal amount of 6.00% Series A Convertible Senior Secured Notes due 2017 of Horizon Lines, Inc. The offer is being made in connection with Matson Navigation's previously announced agreement to acquire Horizon pursuant to the merger transaction. The offer is described in the offer to Purchase and Consent Solicitation Statement dated May 18, 2015. The offer will expire on June 15, 2015 unless extended or earlier terminated. Holders of the notes who validly tender their Notes and deliver their consents to the proposed amendments to the indenture governing the notes prior to the consent payment deadline on May 26, 2015, unless extended, will receive the total consideration of $1,040 per $1,000 principal amount of the notes, which includes a consent payment of $30 per $1,000 principal amount of the notes, plus any accrued and unpaid interest from the last interest payment date on the Notes up to, but not including, the settlement date for such notes. The offer contemplates an early settlement option, such that any Holders who validly tender notes and deliver Consents prior to the Consent Expiration that are accepted for purchase could receive payment as early as May 27, 2015. Holders who validly tender their notes after the Consent Expiration but prior to the Expiration Time will be entitled to receive the tender offer consideration of $1,040 per $1,000 principal amount of the Notes, plus any accrued and unpaid interest on the Notes up to, but not including, the settlement date for such notes. Holders of notes tendered after the Consent Expiration will not receive a consent payment.

Matson Navigation Company, Inc. Announces Executive Changes

Matson Navigation Company, Inc. announced that Chris Scott, currently director, Asia at Matson Navigation Company, will succeed Lauer as vice president, Transpacific services at Matson Navigation Company, effective March 31, 2015, as part of the transition plan. Chris Scott joined Matson in 1995 as a customer service representative in Phoenix.

Matson Navigation Company Inc. Pleads Guilty in Molasses Spill

Matson Navigation Company Inc. pleaded guilty plea on October 24, 2014 to criminal charges from a 1,400-ton molasses spill in Honolulu Harbor that killed more than 26,000 fish and other marine life, but federal judge wants to examine the legality of $600,000 in community service payments the company has agreed to pay. The company and federal prosecutors wanted to proceed immediately with sentencing, with both sides agreeing Matson would pay a $400,000 fine and give $600,000 to environmental organizations.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 11, 2014
Horizon Lines, Inc.
 

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