Panalpina acquires Singapore-based Janco Oilfield Services

Effective July 1, 2005, the global transport and logistics group Panalpina has acquired the business of Singapore-based logistics provider Janco Oilfield Services. Through this acquisition Panalpina will strengthen its globally leading position in supply chain services for the oil and gas industry.

Janco Oilfield Services Pte Ltd. provides logistics management solutions for the upstream sector of the oil and gas industry. With the transaction Panalpina further extends its position as market leader in the oil and gas sector. “According to our clearly defined strategy we continue to grow steadily, strengthening our position on geographical markets and in key industries. The acquisition of the well established and highly efficient company Janco Oilfield Services reflects this strategy in a perfect way”, explains Panalpina CEO Bruno Sidler. “Any acquisition must make sense for all parties involved, foremost for the customers. This is also why we have talked to major clients prior to finalizing the deal, and I am absolutely confident that the combination of Panalpina’s know-how and Janco’s expertise will generate significant benefits and opportunities for the customers”, Sidler adds.

Closing of “final gap” in oil and gas supply network
Erik Hutter, Head of Global Oil and Gas Panalpina, agrees: “The integration is ideally in line with Panalpina’s strategy of selective bolt-on acquisitions to steadily expand its network and solutions offering. Janco is a highly recognized leading service provider in the area, known for its high-quality round-the-clock services. We will thereby close the “final gap” in our oil and gas network and be in a position to offer our total supply chain services at all three major oil and gas hubs in the world, namely Houston, Aberdeen and Singapore”.

A perfect match for both partners
To Bernard Lee, General Manager and former co-owner of Janco, “this transaction is a perfect match for both partners. Panalpina has always been our first choice in view of joining forces with a globally operating logistics network. Janco’s long-standing industry experience and established contacts with major decision makers will enable Panalpina to become market leader also in the Southeast Asia region, based on their capabilities to cover the industry’s needs by combining international freight with local procurement and delivery solutions.”

Management will stay aboard, brand to be continued
The seamless integration of Janco into Panalpina’s structure will be supported by the fact that Bernard Lee and all management have agreed to continue to assume their responsibilities under the new ownership. Furthermore, the experienced workforce of Janco will remain with the company and the established brand of Janco will be maintained in the marketplace.

About Janco Oilfield Services
The company was incorporated in 1984 and is strategically located at Loyang Offshore Supply Base in the eastern end of Singapore, which is the designated oilfield supply base in the region. Janco generated a turnover of 25.1 million SGD (17.4 million CHF) in 2004 and has all the leading oil and gas explorers and producers amongst its key customers. Janco employs a staff of 28 and is an ISO 90001:2000 accredited company that also places great emphasis on operational safety.

About Panalpina
Panalpina is one of the world’s leading suppliers of forwarding and logistics services, specializing in intercontinental air freight and ocean freight shipments and associated supply chain management solutions. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding solutions tailored to its customers’ individual needs. The Panalpina Group operates a close-knit network with some 500 branches in 80 countries. In a further 60 countries, it cooperates closely with partner companies. Panalpina employs about 13,000 people worldwide.