Damco is relocating its corporate headquarters from Copenhagen to The Hague, Netherlands, a move that it slated for completion in the first quarter of 2013. In a press release, Damco explained that the new location is closer to the heart of the European forwarding sector and will help the company achieve top-5 status in the global logistics industry.
“In The Hague, we will be closer to many of our customers, our main air and sea carriers, Europe’s biggest transportation hubs, as well as our competition and the kind of additional international logistics experience we’ll be looking to hire as we continue to grow,” Damco CEO Rolf Habben-Jansen said in a statement.
Damco will begin the relocation process at the end of 2012, according to the press release.
The global freight forwarder has been on a growth trajectory recently. Last year, Damco saw earnings before interest and taxes surge to $97 million — a nearly fivefold increase from 2009 — largely due to strong volumes in its Asian and African sectors. By 2015, the company hopes to see net revenues in the realm of $5 billion.
Habben-Jansen conceded that it’s an ambitious goal, stating that it will require “organic growth and selected acquisitions,” as well as strict cost-management. “Only that will create the needed flexibility to invest when opportunities arise,” he added.