A new strategy adopted in 2012 shows the path the growing USTC Group will travel over the coming three years. Measured on turnover, the USTC Group is one of the biggest companies in Denmark. The high turnover is driven by the activities in Bunker Holding. An important element of the strategy is that Torben Østergaard-Nielsen, founder of USTC, will continue as the sole owner of the company for the entire length of the strategy. What is supposed to happen following the strategy has not been decided, sole shareholder Torben Østergaard-Nielsen answers when asked directly. The building up of the USTC has shown that he prefers running his own companies.
“At some point, I will have to come up with a solution to a generational change. I have just turned 58. This year, we have implemented a three-year strategy with different conditions. One of the conditions is that the ownership remains the same for all three years but of course, I will have to figure something out but as we are speaking, I have no drawn-up solution”, Torben Østergaard-Nielsen tells ShippingWatch. However, he is keeping all his options open. Under all circumstances, the leading employees will be consulted when the time is right.
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