News / Panalpina sharpens its axe as logistics operations sap strength from profits

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Swiss forwarder Panalpina World Transport has identified 15 of its 75 global logistics sites which it says are responsible for most of the losses in its profit-sapping logistics division.

Reporting 2013 financial results yesterday, chief executive Peter Ulber said some sites would be the focus of turnaround efforts and some would be closed.

Asked about the timing, he said: “Contractually, the exit of the road activities is easier, because we subcontract, but in logistics some contracts are easier to turn around than ...