We would like to announce that Relocation International (USA) Inc.（CEO：Yasuji Shimizu） has transferred 90% shares of Relocation TransAmerica, Inc., one of Relo Group’s subsidiary company, to CL Holdings PTE, LTD.’s ESOP (Employee Stock Ownership Plan), CROWN LINE GROUP.
Relocation TransAmerica, Inc. has been operating as a domestic and international moving business mainly in the tri-state, New York, New Jersey and Connecticut. However, in order to respond to changes in the global business environment, we would like to further improve and expand services by synergetic effect with CL Holdings, which is developing business in 11 countries, mainly in Asia, North America and the Middle East.
As a result of this share transfer, the company name will be changed to CR TransAmerica, Inc. We will continue to operate at the current business location (Fort Lee, New Jersey). In addition, Taiki Sasada, CEO of Relocation TransAmerica, will be retiring, and Atsushi Ioroi of CL Holdings will take over as the new CEO.
Through expansion and strengthening of the global network, we will provide moving services nationwide and will continue to strongly support your relocation requirements.
1． Share composition after transfer
CL Holdings PTE, LTD. 90% Relo International (USA) Inc. 10%
2． Date of share transfer
Date of deal ： December 1st 2016
Date of transfer ： December 31st 2016
3． Outline of CR TransAmerica, Inc.
Main Office ：2050 Center Avenue Suite 350, Fort Lee, NJ 07024 U.S.A
CEO ：Atsushi Ioroi
Business description ：Moving service in U.S.A and overseas
4． Outline of CL Holdings PTE, LTD.
Main Office ：No.2 Penjuru Lane Jurong Singapore 609183
Date of foundation ：April 17th 2014
Chair man and CEO ：Mikio Mori
Business description ：Overseas moving service, Overseas expansion support service, Media service, Event promotion service.