(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: firstname.lastname@example.org (kgt)NY #<541848.1895418.104.22.168.0.76>#
DAMCO ACQUIRES PACIFIC NETWORK GLOBAL LOGISTICS
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