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Dollar Steamship Co.
APL, formerly called American President Lines Ltd., is an American container shipping company that is a subsidiary of French shipping company CMA CGM. It operates an all-container ship fleet, including 9 U.S. flagged container vessels. In 1938, the U.S. government took over the management of the Dollar Steamship Co., which was in financial difficulties and transferred their assets to the newly formed American President Lines. In 1997, Singaporean shipping company Neptune Orient Lines (NOL) acquired APL, eventually moving APL's headquarters to Singapore. In 2016, CMA CGM acquired NOL, including APL. History Pacific Mail Steamship Company Following the end of the Mexican–American War in 1848, the United States West Coast of the United States now extended from Puget Sound to San Diego, California, San Diego. When the 29th United States Congress passed the Mail Steamer Bill (1847), mail delivery was authorized to be routed by ship from the East Coast of the United States to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
