Penske Logistics and ABX Logistics have announced the formation of a new joint venture in Brazil: ABXPenske Air & Sea.
Penske and ABX will each hold a 50% stake in the company, which is headquartered at Penske’s South American HQ in Barueri, São Paulo.
This new JV is the first between the two organisations since they announced a strategic global alliance in September 2006 to provide integrated global supply chain solutions for MNCs.
The new JV now enables Penske and ABX to provide international freight management services to customers in Brazil.
Penske Logistics president Vince Hartnett said: “Our joint venture formalises our existing relationship with ABX Logistics in Brazil, and enables both companies to pursue new business opportunities together in the region.”
Penske and ABX will each hold a 50% stake in the company, which is headquartered at Penske’s South American HQ in Barueri, São Paulo.
This new JV is the first between the two organisations since they announced a strategic global alliance in September 2006 to provide integrated global supply chain solutions for MNCs.
The new JV now enables Penske and ABX to provide international freight management services to customers in Brazil.
Penske Logistics president Vince Hartnett said: “Our joint venture formalises our existing relationship with ABX Logistics in Brazil, and enables both companies to pursue new business opportunities together in the region.”