On the wires: Ceva sinks, DSV struggles, DHL & DB Schenker surge through choppy waters
“The freight forwarding sector had a tough end to 2019 after US seaborne imports fell ...
DSV just can’t get enough M&A activity, apparently. Assuming the merger with Panalpina is “on track” in 12-18 months’ time, the Danish forwarder would then begin to look at an acquisition in the road sector, it said. Professor Thomas Plenborg, the new chairman of DSV Panalpina, said the group would look at large targets, reports Logistics Manager.
“When the road division’s new transport management system is fully developed and ready to scale, additions within this business area will be attractive for us. It’s all about increasing our network,” he said. However, he also said that now was “not the time for a lot of new initiatives”.
“We’ve made the biggest acquisition in the history of DSV, and we’ve made a promise to our shareholders that we can successfully integrate Panalpina. We are fully committed to delivering on that promise and believe in the many synergies that can come from the combination: better and more services, stronger networks, greater buying power.”