Schenker sets up freight forwarding and logistics company in Panama
GERMANY's DB Schenker has acquired a 100 per cent of one of the leading freight forwarders for ocean imports in Panama, Euro-Line Panamericana and is renaming the company Schenker (Panama).
The acquisition of its long-term partner is a move to expand the business in one of Central America's growth markets. Panama is also an important hub for regional distribution in Central and South America.
"A major part of the world's future growth will come from markets in South and Central America," said Thomas Lieb, chairman of the management board and CEO of Schenker. "This is why we strengthen our presence in Panama. In order to provide our global customers with more high-quality services with a through going standard, we plan to further strengthen our network in this interesting region," said Dr Lieb.
The new subsidiary will have a corporate office in Panama City, a field office at the airport, and a branch office in the Colon free zone, where two 1,500 square metre warehouses will offer modern capacity for a wide range of services. Some 60 employees will be offering customised solutions for freight forwarding and logistics services, based on proven information technology, a company statement said.
GERMANY's DB Schenker has acquired a 100 per cent of one of the leading freight forwarders for ocean imports in Panama, Euro-Line Panamericana and is renaming the company Schenker (Panama).
The acquisition of its long-term partner is a move to expand the business in one of Central America's growth markets. Panama is also an important hub for regional distribution in Central and South America.
"A major part of the world's future growth will come from markets in South and Central America," said Thomas Lieb, chairman of the management board and CEO of Schenker. "This is why we strengthen our presence in Panama. In order to provide our global customers with more high-quality services with a through going standard, we plan to further strengthen our network in this interesting region," said Dr Lieb.
The new subsidiary will have a corporate office in Panama City, a field office at the airport, and a branch office in the Colon free zone, where two 1,500 square metre warehouses will offer modern capacity for a wide range of services. Some 60 employees will be offering customised solutions for freight forwarding and logistics services, based on proven information technology, a company statement said.