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Panalpina receives Statement of Objections from the European Commission

As reported earlier, Panalpina is a party to a multinational probe into alleged anticompetitive behaviour conducted by several competition authorities, including the European Commission, the US Department of Justice and the Swiss Competition Commission, against a number of major freight forwarding companies. The investigations commenced in October 2007. In Canada and Australia respective investigations have been closed in the meantime.

On February 9, 2010 Panalpina was served with a Statement of Objections by the European Commission. This document contains the European Commission's preliminary view with respect to alleged anticompetitive behaviour in the freight forwarding industry. Panalpina will closely examine the Commission's preliminary findings and will respond in due time. The Statement of Objections enables the addressees to respond to the Commission's preliminary findings and does not prejudge the final decision of the European Commission (which is subject to appeal to the European courts).

It is not possible to predict the outcome of these proceedings at this stage. They may, however, result in material penalties being imposed on Panalpina entities.

It is Panalpina's policy to conduct its business in full compliance with all applicable laws in all jurisdictions in which it conducts its business.

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.