Leading international logistics company, Pacorini Group, to expand operations under DMCC

The Italian-based Group, one of the world's largest shippers and processors of green coffee and the leading non-ferrous metals warehouse company in the Mediterranean, offers logistics solutions on a worldwide basis. The Group, established in 1933 in Trieste, has been successfully operating in Dubai for over two years through its agent Peninsula Shipping Company LLC. During this time more than 150,000 tonnes of non-ferrous metals have been shipped into their Dubai Port Authority-provided warehouses in Jebel Ali Port.

"Our decision to set up a new company in Dubai is the result of the open and encouraging business environment that this city offers. Dubai offers the ideal mix of a flexible, enterprise- friendly culture and a government backed state-of-the-art infrastructure at DMCC that supports the entire commodity value chain. It is not surprising that this city has rapidly become a trading and distribution hub of note," said Federico Pacorini, CEO of Pacorini Group.

Backed by 70 years of experience in the logistics market and in port terminals in Italy, the Pacorini Group now has a growing international network with locations in Northern Europe, North and South America, the Middle East and most recently South East Asia and China via a new joint venture company in Singapore. It offers specialised services in the field of handling general cargo in break-bulk and containers from steel products to paper to shoes. The Group also deals in the processing, warehousing and handling of perishable goods.

"We welcome the Pacorini Group to DMCC. The Group offers world-class services, with specialty in commodity logistics, which will provide a major impetus to the trade of commodities in the region" said Tawfique Abdullah, CEO of DMCC.

The Pacorini Group has witnessed a steady progression from a family business to a truly international presence and 61 per cent of its total turnover is conducted abroad. "The group is still growing, moving into the future, in Italy and around the world. It is now recognised as a reference point in shipping, warehousing, logistics as well as the management of port terminals and specialised transportation," said Mr Pacorini.

The Group's future plans involve the provision of Collateral Management Services to facilitate supply chain management on behalf of banks and other trade finance institutions. The Group's entry in Dubai coincides with the unveiling of Dubai Commodities Receipt, the new electronic commodity warehouse receipt. To be launched soon, the DCR product will have applications on a wide range of commodities and goods, ranging from base metals to soft commodities, chemicals, steel and even fast-moving consumer goods.

"We are excited about the Dubai Commodities Receipt concept. The DCR concept will definitely have synergies with a range of services offered by our Group, particularly Collateral Management Agreements. We have long identified Dubai as an ideal location from which to develop and extend the global reach of our business," said Mr Pacorini.

"The DCR platform will be highly beneficial to all the participants - traders, warehouses, banks and financiers - because of its secured and electronic nature. I am sure the Pacorini Group, with its diversified industry profile, will have a major role to play in the success of our new initiative," added Mr Abdullah.

The announcement by the Pacorini Group is the latest step in the growing number of companies from across the full range of commodities electing to establish operations in Dubai.

Dubai's strategic geographic location and dynamic track record as a regional business hub for the import and export of goods has helped pave the way for DMCC to attract interest from the world class commodities companies and organisations from all over the world.