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DAMCO ACQUIRES PACIFIC NETWORK GLOBAL LOGISTICS

(The following is a reformatted version of a press release
issued by Damco and obtained at www.damco.com) 
Damco acquires Pacific Network Global Logistics 
Damco has signed an agreement to acquire Pacific Network Global
Logistics (PacNet). Damco and PacNet will join forces to create
a freight forwarding business with a stronger global network and
better local service capability in Asia Pacific and Greater
China. 
10 October 2012 - Damco, the global freight forwarder and
logistics provider, will acquire PacNet, a leading 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 USD 2.8 billion in 2011. PacNet, headquartered
in Australia, has 382 employees and a turnover of USD 180
million in FY2011. 
Damco has been looking to strengthen its overall presence in
Australia in the segments where PacNet is active for some time.
Combining forces with PacNet is in that context a very logical
step and an almost perfect fit. 
By combining forces with PacNet, Damco significantly enhances
its platform in the North Asia and Asia Pacific regions. As a
result, Damco will gain market leadership positions in retail
and lifestyle sectors in Australia and further strengthen its
position in airfreight from China to Australia. Customers of
PacNet and Damco will receive highly competitive services,
increased frequencies and better access to peak capacity in the
fast-growing China-Australia trade lane. 
“I am happy to be joining forces with PacNet which is another
good step forward to further build our global business. PacNet
has a high reputation for service in Australia, in the apparel,
footwear and retail sectors,” says Damco CEO Rolf Habben-Jansen.
“We are combining two businesses with very aligned strategies,
complementary skills, customer bases and geographic strengths,
and we have already seen that our cultures match very well,
which is an excellent basis to  further improve our ability to
serve our joint existing and future customers even better,” he
says. 
The customer wins
The acquisition will strengthen Damco’s forwarding capabilities
in Australia, Hong Kong and Mainland China. The customers will
benefit from improved service offerings, more comprehensive
solutions, new products and access to a strong and growing
global network. This will help Damco’s existing customers but
also PacNet’s Australian customers as they seek to expand their
sourcing from China to the rest of the World. 
“We have seen a growing demand for a broader outreach in recent
years and we feel that by joining Damco we can provide our
customers with a strong global presence,” says Paul Milborrow,
CEO of PacNet.
“We will now create a leading freight forwarding business in our
region with a market leading position in key industries,
enabling us to better cater to the demands our customers are
raising,” he adds. 
The PacNet senior management team will join Damco, and the
existing operations will be run by largely the same people and
the same teams, with no disruption to the high level of service
all customers are accustomed to receiving. 
About Damco
Damco is one of the world’s leading third party logistics
providers specializing in customized freight forwarding and
supply chain solutions. The company has 10,800 employees in over
300 offices across 90 countries and representation in a further
30 countries. In 2011, the company had a net turnover of USD 2.8
billion, managed more than 2.5 million TEU of ocean freight and
supply chain management volumes and air freighted more than
110,000 tons. Damco is part of the A.P. Moller - Maersk Group.
www.damco.com 
Further information:
Claus Fonnesbech, Global Media Relations Manager, Damco
Phone: +45 3363 5613
Mobile: +45 2588 4107
Mail: claus.fonnesbech@damco.com 
(kgt)NY 
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