May 2, 2019: This week Panalpina announced that it has legally merged with Argentina-based Newport Cargo.
The company informed through a statement: %u201CThe acquisition was completed in August 2018 and it has added tremendous value to Panalpina%u2019s Perishables Network in expertise, customer base and business development.%u201D
Laurent Riesen, Panalpina%u2019s country managing director for Argentina and Uruguay said: %u201CThey set ambitious deadlines and met them even for critical topics such as legal requirements, system and connectivity continuity. The most telling outcome of this transition and how effectively it was handled is that we retained all of our business during the transition.%u201D
The transition brought in key achievements that include: Miami Perishables LATAM Gateway set up in Panalpina%u2019s network and strengthened business development in Chile and improved cross-selling for dry cargo throughout the network.
Also, new office set up to ensure integration and potential synergies both in the Buenos Aires downtown office and airport office.
Frank Hercksen, Panalpina%u2019s regional CEO for the Americas comments: %u201CAs we embark on another perishables acquisition and merger in LATAM, I hope the achievements of the teams in Argentina can serve as inspiration for our teams in Colombia and Ecuador.%u201D
Headquartered in Buenos Aires, Argentina, Newport Cargo handles approximately 24,000 tonnes of air freight exports each year.