Panalpina, NYK Group link up

Panalpina, NYK Group link up Logistics giant Panalpina and the NYK Group have agreed on a strategic cooperative plan to link their logistics and transportation networks globally, the two companies said in a statement Wednesday.
   The agreement came about 'based on the mutual recognition that both parties are in a position to provide support to each other because of their complementary geographic networks and business models around the world, as well as long-term friendly relations,' the statement said. 'The two parties believe that they will increase efficiencies, reduce costs, and create new business opportunities through a strategic cooperation that includes logistics and transportation services, facilities, and networks on and over seas, land, and air.'
   Among various areas of collaboration, Panalpina and NYK subsidiary Yusen Air & Sea Service Co. will also enter into a comprehensive cooperative relationship in the freight-forwarding business, with a mutual agency contract.