DB Schenker has acquired 100 percent of the shares of long-term partner Euro-Line Panamericana in Panama.
The German logistics firm will operate the business under Schenker (Panama), S.A. Euro-Line is one of the top freight forwarders for ocean imports in Central America.
The new Schenker subsidiary will have its head office in Panama City, with a branch office in the Colon Free Zone and a field office at the airport.
Two warehouses in Colon Free Zone, with 1,500 square meters each, offer capacity for a range of services. About 60 employees will work for Schenker’s Panama operation.
“A major part of the world’s future growth will come from markets in South and Central America,” said Thomas C. Lieb, chairman of the management board and chief executive officer of Schenker AG, in a statement. “This is why we strengthen our presence in Panama…. We plan to further strengthen our network in this interesting region.”