Alexander & Baldwin Closes Separation Of Land And Transportation Businesses

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6/29/2012 4:16 PM ET

Alexander & Baldwin Holdings Inc. (ALEX: Quote) announced that it has completed its previously announced plan to separate its land and transportation businesses into two stand-alone, publicly traded companies.

The land business will operate under the name Alexander & Baldwin, Inc. or "A&B" and, beginning on Monday, July 2, will trade on the New York Stock Exchange under the ticker symbol "ALEX".

The transportation business will operate under the name Matson, Inc. and, also beginning on Monday, July 2, will trade on the New York Stock Exchange under the ticker symbol "MATX".

Stanley Kuriyama, current president and chief executive officer of Alexander & Baldwin, Inc., will continue in his role as CEO of A&B and will also become its chairman. Matthew Cox, current president of Matson Inc., will assume the role of Matson's chief executive officer.

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by RTT Staff Writer

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