Damco buys Australian forwarder

Europe

Wednesday, October 10, 2012

Damco has signed an agreement to acquire Pacific Network Global Logistics (PacNet), a freight forwarder in China and Australia. Damco is the logistics arm of the A.P. Moller-Maersk Group with 10,800 employees worldwide and a turnover of $2.8 billion in 2011. PacNet, headquartered in Australia, has 382 employees and a turnover of $180 million in fiscal year 2011. Damco said it had "been looking to strengthen its overall presence in Australia in the segments where ...

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