Penske Logistics and ABX Logistics have formed a new joint venture in Brazil: ABX-Penske Air & Sea.

They will each hold a 50% stake in the company based at Penske’s South American headquarters in Barueri, Sao Paulo.

This new joint venture is the first between the two organisations since they announced a strategic global alliance in September 2006 to provide integrated, global supply chain solutions for multinational corporations. They can now offer international freight management services to customers in Brazil.