Latest news from Heavy Lift & Project Forwarding International Magazine

Panalpina reports positive results, as shareholders grapple for control

Panalpina has reported positive annual results, amid ongoing internal discussions over shareholder voting rights.

The Swiss freight forwarder ended 2018 with record airfreight volumes and solid profitability from its logistics divisions. Although volumes in its ocean freight business decreased 2 percent year-on-year, Panalpina ceo Stefan Karlen said the company “performed strongly overall in 2018”.

In announcing its annual results, the company’s investors presentation drew attention to the topic of voting rights, following the Ernst Göhner Foundation’s (EGF) calls for the implementation of a one share, one vote regime.

Currently, there is a 5 percent voting restriction on shareholders. However, EGF is exempt from this as it held its shares prior to the introduction of the voting restrictions.

EGF’s calls for the one share, one vote regime follows criticisms from minority shareholder Cevian, which requested the voting restrictions be applied to all shareholders. This would have reduced the voting power of EGF - Panalpina’s largest shareholder - to 5 percent.

An ad hoc board of independent directors, consisting of five directors (without representatives of EGF and Cevian) and chaired by Thomas Kern, is currently evaluating the situation based on expert opinions submitted by EGF and Cevian and based on independent expert advice obtained by the board.

www.panalpina.com

www.ernst-goehner-stiftung.ch

www.ceviancapital.com

Heavy Lift | News

Marguisa teams up with NileDutch thumbnail image

Marguisa teams up with NileDutch

October 16 - Marguisa has signed an agreement with NileDutch that will see the company’s Calabar service expanded with additional port calls in the Republic of the Congo and São Tomé and Príncipe.
Views: 4
DSV warns of cuts at Panalpina thumbnail image

DSV warns of cuts at Panalpina

October 15 - Corporate functions and positions at Panalpina may be cut or relocated to DSV’s headquarters in Denmark, as the companies continue with the integration process.
Views: 421
Seville prepares for more project cargo thumbnail image

Seville prepares for more project cargo

October 15 - The port of Seville revealed that it will make a series of infrastructure improvements aimed at attracting industrial traffic and project cargoes.
Views: 329
Webster appointed at Barnhart thumbnail image

Webster appointed at Barnhart

October 15 - Barnhart Crane & Rigging has appointed David Webster as senior vice president – operations.
Views: 264

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.