Panalpina India forms new consortium

Updated: Jan 24 2002, 05:30am hrs
Panalpina India, a 100 per cent subsidiary of the Switzerland-based $4-billion freight forwarding and logistics company Panalpina World Transport (Holding) Ltd, announced a strategic alliance with Safexpress, a leading logistics company, and Miebach Consulting Group, supply chain management consultants, to form a large cargo network logstics and supply chain consortium.

Mr Markus A Muecke, managing director and CEO, Panalpina India said: ‘‘The alliance formed between our three companies links the global network of Panalpina World Transport spanning six continents with safexpress’ large network base in India covering all states.

The alliance between our companies will provide integrated logistics and supply chain management with the technical advisory and expertise of Miebach Consulting group known for integrated supply chain and logistics solutions for the pharmaceutical, IT, automobile, fashion, retail and manufacturing sector.’’

The alliance is intended to strengthen Panalpina India’s presence in the logistics market. Panalpina operates in five areas: airfreight imports, airfreight exports, seafreight exports, seafreight imports and logistics.

Panalpina is also in the process of finalising alliances in the sphere of full-truck load operations, container freight stations and domestic airfireght. ‘‘We’ll tie-up in the next three months,’’ said Mr Muecke.

Panalpina is looking at gross profit growth of over 20 per cent in the year 2002. The company’s revenues grew by 28 per cent and gross profit by 23 per cent in 2001.

Following an investment of around $ 3.5 million in the next couple of years, Panalpina also plans to invest $ 1 million in developing its IT infrastructure.