newstodate.aero
MAR 12, 2003 (newstodate): In 2002, Norwegian forwarding and logistics provider, Nor-Cargo saw a deficit at 32.2 million NOK against (64.7) in 2001.
The company sees several reasons behind the below-budget performance. Costs run high after a wage hike, the market suffered fromom over-capacity, parcels performed badly, and exports of fresh Norwegian fish dipped.
As a result, Nor-Cargo has restructured its parcel activities, cancelled its agreement with General Parcel, and reduced its parcel division to concentrating solely on the parcel services for Norwegian business companies.
Among the more succesful activities, Nor-Cargo saw positive developments in 3. party logistics, loose freight, and off-shore and project activities.
The company will, however, conitue to cut staff to ajust to market conditions.
The company sees several reasons behind the below-budget performance. Costs run high after a wage hike, the market suffered fromom over-capacity, parcels performed badly, and exports of fresh Norwegian fish dipped.
As a result, Nor-Cargo has restructured its parcel activities, cancelled its agreement with General Parcel, and reduced its parcel division to concentrating solely on the parcel services for Norwegian business companies.
Among the more succesful activities, Nor-Cargo saw positive developments in 3. party logistics, loose freight, and off-shore and project activities.
The company will, however, conitue to cut staff to ajust to market conditions.