Panalpina: Smooth withdrawal from Nigeria
Oct 10, 2008
Panalpina will concentrate its future activities in Nigeria on transport services up to arrival port or airport. All domestic services, including customs clearance, have been discontinued.
The withdrawal from the Nigerian domestic business has proceeded smoothly and according to plan. After the announcement of this step by the Panalpina management in July, intensive discussions with customers, Nigerian investors and employee representatives were held. These resulted in swift implementation of the plans. “It was very important for us to ensure that the discontinuation of the domestic services would have as little impact on customers and employees as possible”, explains CEO Monika Ribar. “I am convinced that we have worked out a solution which meets these expectations”, she continued.
A new company founded by Nigerian investors has taken over Panalpina’s local service portfolio and acquired some of Panalpina’s assets and resources. The company has also recruited employees from the Panalpina Nigeria workforce. However, it operates completely independently from Panalpina, which does not hold any equity stake.
For the remaining staff, Panalpina and employee representatives agreed on mutually amicable solutions.