Panalpina commenced settlement discussions with the US Department of Justice

Dec 9, 2009

The investigation by the global forwarding and logistics Group Panalpina in connection with alleged violations of the Foreign Corrupt Practices Act (FCPA) mainly in Nigeria is nearing completion.

Last week, Panalpina commenced settlement discussions with the U.S. Department of Justice (DOJ). This process may take several months until finalization. Panalpina’s investigation into the company’s compliance with the FCPA, which has been conducted in coordination and full cooperation with the DOJ, is drawing to a close. For almost three years, in depth reviews of operational activities in several countries, among them difficult markets in West Africa and Central Asia, have been conducted.

As part of its numerous initiatives to strengthen and expand compliance on a global level, Panalpina’s Compliance Department has played an active role in critical aspects of the investigation under the oversight of outside counsel and in coordination with the DOJ. In the course of these proceedings the DOJ has met with the Compliance Department and has received updates on the company’s compliance programs and their implementation.

Panalpina’s compliance initiatives include the decision to close its Nigerian organization and restructure its operations in West Africa. It is inherent to Panalpina’s business philosophy to owe its customers the highest level of trust and reliability. Panalpina’s efforts have meanwhile been applauded by major customers.

Further information will be provided as soon as available.

About Panalpina

The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products of Air Freight, Ocean Freight, and Logistics to deliver globally integrated, tailor-made end-to-end solutions. Drawing on in-depth industry know-how and customized IT systems, Panalpina manages the needs of its customers' supply chains, no matter how demanding they might be. Energy Solutions is a specialized service for the energy and capital projects sector. The Panalpina Group operates a global network with some 500 offices in more than 75 countries, and it works with partner companies in a further 90 countries. Panalpina employs 15,000 people worldwide who deliver a comprehensive service to the highest quality standards – wherever and whenever.