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COPENHAGEN/BASEL: August 19, 2019. DSV is now the new owner of Panalpina at a cost of approximately CHF5.4 billion. The Danish company said it expects to achieve “annual cost synergies” of CHF321 million by 2022 from the consolidation of operations, logistics facilities, administration and IT infrastructure.

last pic of panalpina before dsvDSV CEO Jens Bjørn Andersen has replaced Stefan Karlen as CEO of the new company called 'DSV Panalpina' and DSV CFO Jens Lund becomes the new CFO with the resignation of Panalpina's Robert Emi. Also resigned is Karsten Breum, former Panalpina CHRO, who is not being replaced.

Andersen commented: "We are very excited to welcome Panalpina’s customers, employees and shareholders to DSV. Our two companies will achieve more together, creating even more value for all our stakeholders. The settlement of the deal marks the beginning of the integration process, during which we will strive to provide the high level of service our customers know and rely on.”

Prior to the acquisition, Panalpina employed 14,500 people in 70 countries. One of them is Robert Jungblut, a 40-year logistics industry veteran who loves to fly gliders. Prior to his retirement next year, he thought he’d try and get a once-in-a-lifetime snapshot: Panalpina’s Atlas Air B747-8 next to his Schempp-Hirth Duo Discus T glider (pictured).

With a little help from his former colleagues, Luxair and Luxembourg Airport, it came true before the clock struck midnight on his old company. The combination with DSV now creates a logistics company of 60,000 employees in 90 countries with annual pro forma revenue of CHF17.2 billion.

For Jungblut, he has a few more months providing healthcare logistics services to DSV Panalpina customers prior to spending more time gliding across Northern Europe.

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