Joseph Bonney, Senior Editor | Sep 11, 2012 10:02AM EDT
Global freight forwarder and logistics provider Damco plans to move its headquarters from Copenhagen to The Hague, Netherlands, by the first quarter of 2013.
“In The Hague, we will be closer to many of our customers, our main air and sea carriers, Europe’s biggest transportation hubs, as well as our competition and the kind of additional international logistics experience we’ll be looking to hire as we continue to grow,” Damco CEO Rolf Habben-Jansen said.
Damco, a subsidiary of the A.P. Moller-Maersk Group, said its goal is to become among the top five forwarding and logistics companies. Damco recorded earnings before interest and taxes of $97 million last year, a nearly fivefold increase from $22 million in 2009.
The company said its moving process would begin at the end of this year. About half of the approximately 150 employees in Damco’s Copenhagen headquarters will be affected by the move. Approximately 75 will remain in Copenhagen to handle information technology work.
Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter at @JosephBonney.
