Panalpina World Transport

Basel, Switzerland

SWX: PWTN

 In the U.S.

Panalpina Inc.

Morristown, NJ

Lucas Kuehner, Managing Director, USA

(973) 683-9000

3PL Turnover:

$2b Americas ($7.6b Global)

Service Area:

Tier 1 – Global Supply Chain Manager – Freight Forwarding

3PL Assets:

 15,000 employees

240 warehouses

Information Systems:

Good

Emphasis is on internet native SCM

Services:

Air and ocean freight forwarding, supply chain management

Industry Focus:

Apparel, automotive, computers and electronics, healthcare, oil and gas, retail

Key Customers:

Not disclosed

Armstrong & Associates’ Evaluation:

Panalpina is a top ten freight forwarder. It is the third largest in airfreight and fourth largest in ocean freight. About 16% of its revenues are derived from supply chain management. It handles 1,084,000 TEUs per year, 947,000 tonnes of airfreight and about 1.233 million tons of non-containerized break bulk cargo. EBITDA margins run 19.7%. Of its net forwarding revenue, 12.9% are generated in Asia/Pacific, 19.4% in North America, 9.4% in South America and 58.3% in Europe/Africa/Middle East/CIS. North American operations are impacted by weak US dollar and slowing imports; however, showing strong EBIT recovery in line with our objective and strong demand for SCM solutions. In 2005, Panalpina underwent an IPO, which was successful. Panalpina operates in 160 countries. A key strategic relationship has been formed with NYK’s Yusen operation.