Alexander & Baldwin, Inc. (A&B) is a diversified corporation with most of its operations centered in Hawaii. The business industries of the Company constitute transportation, real estate and agribusiness. The Company's ocean transportation operations, related shore side operations in Hawaii, related intermodal, truck brokerage and logistics services are conducted by its wholly owned subsidiary, Matson Navigation Company, Inc. (Matson) and two Matson subsidiaries. Its property development and agribusiness operations are conducted by A&B and certain other subsidiaries of A&B. On August 29, 2008, A&B announced that its subsidiary Matson Global Distribution Services, Inc., has acquired Pacific American Services, LLC., (PACAM), a regional, asset-light warehousing, packaging and distribution company specializing in value-added handling of domestic, import and export goods. In June 2009, A & B announced that A&B Properties, Inc., the subsidiary of the Company, sold Hawaii Business Park.