The agreement (which is expected to become effective during the second quarter of 2007) will provide new business opportunities for both parties, who will consequently increase their efficiency and reduce costs at the same time. The agency agreement with Yusen Air & Sea Service will allow Panalpina to consolidate all of its service offerings, purchasing and domestic activities in Japan. At the same time, YAS will gain access to Panalpina’s extensive network and in-depth market knowledge. Thus both parties will strengthen their respective networks and procurement capabilities, with mutual benefits on a global basis.
As part of the agreement, Panalpina appoints YAS as its agent for air and ocean freight business in Japan. YAS in turn assigns Panalpina to be its representative in several countries across Latin America, Africa and the Middle East. The collaboration creates global advantages for both parties in their respective markets, including mutually beneficial co-loading opportunities.
According to Andreas Behnke, Representative Director of Panalpina Japan, "Panalpina will gain access to a wider customer base and efficient operation. In addition, we will improve our competitive strengths in both Japan and the Intra-Asia trade market."
Mr Shunichi Yano, President of YAS, adds: “We believe that this cooperation will increase efficiencies and create new business opportunities for both parties, enhancing their global competitiveness in meeting their customer demands for high quality services.”
“We view a strong presence in the Japanese market as an essential part of our global strategy, and together we are looking forward to building an even stronger network”, comments Panalpina CEO, Ms Monika Ribar. Mr Tadamasa Ishida, EVP of NYK, says that “by using Panalpina’s global network we can fulfill our customers’ needs anywhere in the world in a perfect manner.”
NYK Group is one of the world's leading transportation and logistics companies. The NYK Group operates approximately 700 major ocean vessels, as well as fleets of planes, trains, trucks combined with various logistics services. NYK's revenue in fiscal 2005 was USD 16 billion, and as a group, NYK employs about 48,000 people worldwide. The company has offices in 240 locations in 27 countries, warehouses in every continent, and harbor operations in Asia, North America, and Europe. NYK is based in Tokyo, and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo. Further information can be found at www.nykline.co.jp
Contact: NYK Line, Mr Keizo Nagai, Corporate Communications Group,
Phone +81 3 32845058, e-mail firstname.lastname@example.org
Yusen Air & Service Co., Ltd., with worldwide headquarters in Tokyo, Japan, was established in 1955 as a cargo and travel agency on behalf of international airlines. On February 2005, its shares were successfully listed on the First Section of the Tokyo Stock Exchange. Today, as one of the world's leading air freight forwarders and transportation solutions company, the Company is reinforcing its presence as a total logistics provider -- with ocean transportation services, warehousing, customs brokerage and other services to complement the air freight forwarding services through a global network of nearly 225 offices in 33 countries -- and plays an integral part in the Yusen Global Logistics network as a member of NYK Group. Further information can be found at www.yusen.co.jp
Contact: Yusen Air & Sea Service Co., Ltd., Mr Shinsuke Masuda,
Corporate Communications & IR Dept, phone +81 3 3669 6436, email@example.com