Berlin/Essen/Panama City, April 17, 2013 – Effective March 22, 2013, DB Schenker has acquired 100 per cent of the shares of long-term partner Euro-Line Panamericana in Panama. DB Schenker will continue and expand the business in one of Central America’s growth markets under the name of Schenker (Panama), S.A. So far, Euro-Line is one of the leading freight forwarders for Ocean Imports.
The new subsidiary will have its Corporate Office in Panama City, with a Branch Office in Colon Free Zone and a Field Office at the Airport. Two warehouses in Colon Free Zone, with 1,500 square meters each, offer modern capacity for a wide range of services. Some 60 employees will be offering customized solutions for freight forwarding and logistics services, based on proven information technology. Panama is an important hub for the regional distribution in Central and South America and will be an important gateway for global DB Schenker key accounts.
“A major part of the world’s future growth will come from markets in South and Central America,” outlined Dr. Thomas C. Lieb, Chairman of the Management Board and CEO of Schenker AG. “This is why we strengthen our presence in Panama. In order to provide our global customers with more high-quality services with a throughgoing standard, we plan to further strengthen our network in this interesting region.”
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SOURCE: Submitted by DB Schenker