INTERNATIONAL freight forwarding and logistics company Panalpina is to acquire Newport Cargo, Argentina's air freight market leader and perishables specialist
INTERNATIONAL freight forwarding and logistics company Panalpina is to acquire Newport Cargo, Argentina's air freight market leader and perishables specialist. This acquisition is geared towards end-to-end solutions for perishables and will not only extend Panalpina's foothold in Argentina but also in neighbouring countries in South America. Headquartered in the centre of Buenos Aires and with offices at the Ezeiza international airport, Newport Cargo handles 24,000 tons of air freight exports per year.
Said Panalpina CEO Stefan Karlen: 'Fish, fruit and seeds, for example, are trucked from various regions across the border to Argentina and flown out of Buenos Aires. So with this acquisition we are expanding our perishables footprint in an entire region and again strengthening our global end-to-end capabilities for perishables.'
Newport Cargo exports fish and berries to the US, where the company has a strong customer base and an office in Miami, while Panalpina traditionally imports high tech and consumer goods into Argentina.
Newport Cargo's 42 staff, serve 150 customers, and the 60 employees of Panalpina Argentina will be joined under one roof in Buenos Aires.
