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Panalpina acquires Egyptian agent

Chris Gillis
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The Swiss freight forwarder said former agent Afifi will be “fully integrated” into its operation.

   Swiss freight forwarder Panalpina has acquired its Egyptian agent, Afifi.
   Financial terms of the deal were not disclosed, but Panalpina said Afifi will be “fully integrated” into its operation.
   Panalpina has worked with Afifi since 1995. The company has about 150 employees in offices in Cairo, Alexandria and Suez/Sokhna. It also operates in Port Said East and West through a subcontractor. 
   In Egypt, Panalpina said it sees the greatest growth potential in the oil and gas, construction projects, telecom, automotive and healthcare sectors.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.