Visit Our Sponsors
Penske Logistics and ABX Logistics have formed a new joint venture in Brazil, the first such arrangement since they announced a global alliance in September of 2006. ABX-Penske Air & Sea and ABX Logistics will each hold a 50-percent stake in the company, which will have its headquarters at Penske's South American headquarters in Barueri, Sao Paulo. Together the partners will provide international freight-management services to customers in Brazil. The deal formalizes the companies' existing relationship in that country, while allowing both to pursue new business opportunities in the region. Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske Corp. and General Electric. It provides supply-chain management and logistics services to industrial and consumer companies throughout the world. ABX operates in 100 countries, including 35 with its own subsidiaries.
Enjoy curated articles directly to your inbox.