Sunday, 16 November 2008

Nigerian Investors Acquire Panalpina

A group of Nigerian investors with impeccable top drawer credentials led by Port-Harcourt based businessman and oil services technocrat, Chief Charles Obule, has bought over Panalpina Nigeria.

In a seamless transition, Worldwide Premier Logistics Solution (Nig) Ltd, took over the 54-year-long operations of Panalpina in Nigeria as the culmination of a painstaking process which began a few months ago. The wholly indigenous Nigerian company now commands a 100 percent stake in Panalpina.

On the board of Premier Logistics Solution are Mallam Abba Dabo, veteran journalist and businessman, the Turakin Kano, Prince Nasir Bayero an administrator and businessman and Chief Charles Obule, who as managing director is expected to bring to bear his wealth of experience in logistics and shipments garnered in over a decade, in the services of Shell Petroleum Development Company (SPDC) as corporate commercial adviser.

According to Obule, "Impressed by the over five decades in air freighting, sea freighting and provision of sundry logistics solutions by Panalpina in Nigeria, and judging by the quantum of investments in human capital development - local and expatriate - it was indeed a patriotic and moral duty for the investors in Worldwide Premier Logistics Solution Nigeria Limited, to buy over the operations of Panalpina in Nigeria."

Obule stated that the investors who come with impeccable top-drawer credentials and formidable reputations built on honesty, hard work, integrity and patriotism, would stake their reputation to ensure the highest principles of business ethics and international best practices in the provision of logistics services solutions.

By the take-over of Panalpina Operations in Nigeria, Premier Logistics Solution has retained all the staff of Panalpina.

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