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Panalpina’s third quarter results fell significantly below the company’s own expectations.
Machinery manufacturer Krones awarded Panalpina the distribution of spare parts from Europe into the Asia Pacific and Greater China area.
Panalpina and the NYK Group agreed to realign their partnership in Japan. Panalpina will represent its own interests in Japan, effective January 2010.
Panalpina Group, the Switzerland-based logistics and forwarding provider, reported its net profit dropped 77.9 percent during the first half of 2009 compared with the same period last year, to $15.9 m
Swiss logistics giant Panalpina said Monday it is disputing a claim for damages by a major institutional shareholder resulting from the company’s withdrawal from troubled business in Nigeria.
Panalpina, the Swiss global logistics group, reported net earnings crashed 95 percent in the first quarter from a year ago amid a slump in ocean and air freight traffic on trans-Atlantic and trans-Pac
LONDON – Panalpina almost halved net earnings last year and will cut approximately 10 percent of its workforce amid declining global cargo volumes, the Swiss logistics group said March 12.