Penske Logistics takes ownership of Cotia Penske in Brazil
Penske Logistics, a provider of supply chain management and logistics services, has assumed sole ownership and operational control of Cotia Penske Logistics in Brazil, a joint venture formed by Penske and Cotia Trading in 1998.
The new company will operate under the Penske Logistics brand while continuing to work with Cotia Trading, a large independent Brazilian trading company, 'as preferred business partners as it relates to foreign trade and logistics opportunities,' Penske Logistics said in a statement.
Penske Logistics, based in Reading, Pa., is a wholly owned subsidiary of Penske Truck Leasing.