Executive Briefings

Damco to Acquire Pacific Network Global Logistics

Damco, the global freight forwarder and logistics service provider, said it will acquire Pacific Network Global Logistics, a freight forwarder operating in China and Australia.

Damco said it has been looking to strengthen its presence in Australia in the segments where PacNet is active, including retail and lifestyle sectors. It also hopes to strengthen its position in airfreight from China to Australia. Headquartered in Australia, PacNet has 382 employees and a turnover of $180m for its 2011 fiscal year. PacNet's senior management team, including managing director Paul Milborrow, will join Damco, the company said. Damco has 10,800 employees in more than 300 offices in 90 countries, with representation in another 30 countries. Damco is part of the A.P. Moller-Maersk Group.

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Damco said it has been looking to strengthen its presence in Australia in the segments where PacNet is active, including retail and lifestyle sectors. It also hopes to strengthen its position in airfreight from China to Australia. Headquartered in Australia, PacNet has 382 employees and a turnover of $180m for its 2011 fiscal year. PacNet's senior management team, including managing director Paul Milborrow, will join Damco, the company said. Damco has 10,800 employees in more than 300 offices in 90 countries, with representation in another 30 countries. Damco is part of the A.P. Moller-Maersk Group.

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