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The Bidvest Group - Safcor Panalpina acquisition of Renfreight

Release Date: 24/10/2001 08:43
Code(s): BVT
Wrap Text
The Bidvest Group
Share code: BVT
ISIN:       ZAE000008132

Safcor Panalpina will acquire with immediate effect the business of Renfreight. Both Safcor Panalpina and Renfreight are wholly owned subsidiaries of Bidfreight within the Services Division of the Bidvest Group Limited.
The move has been prompted in part by the recent alignment of Renfreight with the Swiss based Panalpina Group, who have for the past 30 years been international forwarding partners to Safcor Panalpina.
It is expected that the incorporation of Renfreight into Safcor Panalpina will yield enhanced service levels and significant rationalisation benefits. The trading name of the enlarged entity incorporating Renfreight will be Safcor Panalpina.

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