by Mindy Aguon
Guam - Matson and Alexander & Baldwin, Inc. have announced they are separating to create two independent, publicly traded companies. According to an article on Marine Log, the two companies have had significant growth since Matson became a wholly owned subsidiary of A&B in 1969.
A&B will pursue interests in real estate development and commercial real estate and agriculture while Matson will focus on ocean transportation serving the West Coast, Hawaii, Guam, Micronesia and China. The report states that company officials believe the separation will create two financially strong public companies - each with more than a billion dollars in assets.