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)