Panalpina acquires Egyptian agent Afifi

As part of Panalpina’s effort to make strides in emerging economies, it has acquired 100 percent of its Egyptian agent, Afifi. Panalpina has had a relationship with Afifi as its agent in Egypt for ocean- and airfreight, and project services since 1995.

Afifi, established in Cairo in 1936, employs approximately 150 people, with satellite offices in Alexandria and Suez/Sokhna. The company will be fully integrated into Panalpina.

“Egypt has a large population and a sizeable middle class, in addition to being the regional base for numerous international companies,” said Peter Triebel, CEO for Panalpina in the Middle East, Africa and CIS. “Now political reforms are under way to strengthen the economy and improve the investment climate. Add a freight forwarding market that is very fragmented, and we have ample opportunity for growth.”

 

 

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