Financial Daily from THE HINDU group of publications
Tuesday, Jul 05, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 05, 2005 |
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Logistics
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Supply Chain Management Logistics cos tying up with foreign operators Our Bureau
Mumbai , July 4 NEW consolidations continue to firm up the domestic logistics market, as Indian logistics service providers pick up stake or form joint venture with foreign companies to widen their supply chain management solutions. In the recent past, two Indian companies, Seaways Rhenus and Mumbai-based All Cargo Movers, announced such consolidations. Seaways Rhenus, a 50:50 joint venture between Hyderabad-based Seaways Shipping and German logistics major Rhenus, announced a strategic tie-up with Azkar Logistics of Spain. Mr Vivek Anand, Director of Seaways, said Azkar was looking at the growing Indian logistics market and has offered greater access to its network of warehouses and distribution facilities." The strategic alliance was firmed up at the recently concluded international logistics fair held in Munich. Seaways has a network of 25 branches in India, while Rhenus has a major presence in Germany and Europe at 80 different locations. The Euro 236 million Azkar Logistics at present has 58 distribution centres, 29 logistics platforms and 2,200 vehicles. Mumbai-based Allcargo Movers has announced picking up of 34 per cent stake in Antwerp-headquarters ECU Hold NV, engaged in NVOCC (Non-Vessel Owning Cargo carrier) operations. Through this strategic joint venture, Allcargo will have greater access to the distribution network of ECU Hold.
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