Do you recognise the extra logo on this Enicar watch dial?

[MatthewT]

Hi
Does anyone recognise the logo on this Enicar watch dial? Is it a diving company logo maybe? I've seen the Cressi Sub logo before but it doesn't look like that.
Who can help?
Many thanks
Matthew

 

[hurmen]

Panalpina.

Some info can be found here: Wikipedia Panalpina

 

[MatthewT]

Thanks very much.