December 28 - Due to the loss of a major customer in Norway, Switzerland-headquartered forwarder Panalpina has reviewed the goodwill position relating to its acquisition of Norwegian company Grieg Logistics in 2011.

Based on expected business development in Norway, Panalpina has decided to partially write off some its intangible assets regarding Norwegian operations. The company expects an impairment charge of CHF29million to be recorded against the assets in its full-year financial statement 2012.

www.panalpina.com

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