Worried? Not Mr. Kuehne
While numerous transportation companies are scrambling for freight and to maintain cash flow, Klaus-Michael Kuehne, executive chairman of Swiss giant Kuehne + Nagel, said in December that his company is well placed to weather a downturn in demand for logistics services.
'Kuehne + Nagel has prepared early for a significant slowdown and implemented measures focusing on strict cost management and combined productivity increase,' Kuehne said at a general meeting on Dec. 9 to elect German Karl Gernandt as a new member of the K + N board.
'This group is well positioned on a global scale,' he continued. 'Furthermore we are debt-free and hold a high cash balance. We will continue to take advantage of business opportunities in new markets and industries and will actively participate in further consolidation within the logistics industry.' (Chris Gillis)
Worried? Not Mr. Kuehne
