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            january 25, 2020

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Panalpina to buy CargoMaster and Laseair


Swiss freight forwarder Panalpina says it is to acquire Colombian company CargoMaster SA and its Ecuador-located subsidiary, Laseair SA, for an undisclosed amount in a bid to expand its perishables network.
Founded in 1987, CargoMaster specialises in the airfreight export of perishables, including flowers and fruit, and transports nine million boxes a year. CargoMaster and Laseair export to the US, Europe and Asia, reported American Shipper.
"We are adding significant volumes and know-how to our already impressive perishables footprint in Latin America, which will allow us to further deepen our well-established relationships with the airlines and producers in the region," Panalpina CEO Stefan Karlen said in a statement.
"As we continue to expand the perishables business in this part of the world, we also see great development opportunities for our charter network with its gateway in Huntsville, Alabama."
Panalpina's perishables activities originated in Latin America before extending to Europe and Africa and spans 30 countries.

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