December 21 - Panalpina has formed a joint venture with Saudi Arabia's Al Rushaid, combining its services in air and ocean freight, and Customs clearance, as well as warehousing and distribution.
Pending regulatory approval, the joint venture will operate as Panalpina Al Rushaid and plans to tap into the potential of the Saudi Arabian freight forwarding and logistics market.
Through its subsidiaries and joint venture companies, Al Rushaid, which is one of the main suppliers of Saudi Aramco, provides a wide range of services to companies active in the oil and gas, manufacturing, construction, engineering, trading, commercial real estate and technology industries.
