Panalpina Welttransport AG reached an agreement to acquire Newport Cargo S.A. from Chief Executive Officer, Roberto Fernandez, Chief Financial Officer, Jose Gancedo and Chief Compliance Officer, Federico Calvo.

Panalpina Welttransport (Holding) AG (SWX:PWTN) reached an agreement to acquire Newport Cargo S.A. from Chief Executive Officer, Roberto Fernandez, Chief Financial Officer, Jose Gancedo and Chief Compliance Officer, Federico Calvo on June 13, 2018. Post-completion, Federico Calvo will join Panalpina and will be responsible for Panalpina's Air Freight operations in Argentina. He will be accompanied by Fernando Loureiro in the perishables business. All 42 staff of Newport Cargo will be retained. The transaction is subject to certain conditions.