PANALPINA, AIT WORLDWIDE LOGISTICS FORM ALLIANCE
Panalpina Group, the Swiss forwarding and logistics giant, has formed a strategic non-financial alliance with AIT Worldwide Logistics, the U.S. freight forwarder, to develop supply chain management services.
AIT, which has offices in 36 U.S. cities and more than 800 employees, will provide U.S. domestic services for Panalpina, while AIT gains access to Panalpina's worldwide network. The cooperation will offer worldwide integrated transportation solutions with no weight or size restrictions, the two companies said.
'By teaming up, both companies will enrich their product portfolios and expand time-definite services,' said Robert Frei, chief operating officer of Panalpina. His company owns and operates more than 330 offices in 70 countries and employs about 12,000 people worldwide.
AIT has projected its 2001 revenue at $250 million.