Panalpina Expand Perishables Network to Argentina
Swiss-based forwarding and logistics company Panalpina recently announced they will acquire Newport Cargo S.A., both companies reached an agreement June 13, 2018, as with all acquisitions the deal is subject to conditions.
Newport Cargo S.A. is Headquartered in the center of Buenos Aires, the capital of Argentina. Further offices and facilities are located at Ezeiza International Airport. The company handles more than 24,000 tonnes of air freight exports every year.
CEO of Panalpina, Stefan Karlen explained about the acquisition, “Panalpina’s perishables activities originated in Latin America, which is one of the world’s high-production regions for fresh produce. By acquiring Newport Cargo, we are not only gaining control over Argentinian perishables exports but from neighboring countries too,”
“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 has a strong customer base in the US supplying the country with fish and berries exports, the company also has an office in Miami, Panalpina on the other hand traditionally imports consumer and high tech goods into Argentina.
Newport Cargo CEO, Roberto Fernandez said, “Over the past forty years we have built very strong relationships with customers and airlines, a very broad perishables expertise and a successful niche business with live animals. We can bring this expertise into Panalpina’s global network and benefit from established structures and processes that will upgrade our service offering and enable sustainable growth, also in the future.”
Founded in 1978, Newport Cargo is Argentina’s undisputed leader in the air freight export market. The company employs 42 full-time cargo professionals and is wholly owned by the CEO, the CFO Jose Gancedo and the CCO Federico Calvo. 60 employees of Panalpina Argentina will join with Newport Cargo at their facility in Buenos Aires.
Panalpina Argentina and Uruguay Managing Director, Laurent Riesen had this to say, “Soon our workforce in Argentina will almost double and we are very excited to get the top-notch concentrated perishables and equine knowledge of our new colleagues at Newport Cargo on board.”
Financial details of the deal have not been disclosed as agreed by both companies.