Swiss logistic group M+R Spedag, which took over the Chennai-based PL Shipping and Logistic, plans to expand its services in two areas — air freight and project cargo.

There is a growth potential in both these areas and the company would be strengthening its network to take advantage of it. Project cargo includes transportation of heavy materials, plants and machinery.

The Indian company, renamed as M+R Logistics (India) Pvt. Ltd, will set up another 5-10 offices in the country in the next couple of years, said, Mr Ramkumar Ramachandran, Managing Director.

Currently, the company has 13 offices and 350 people in India. Mr Ramachandran, who also holds a minority stake in the company, said he expects the Indian business to double in the next 2-3 years. The logistics market is growing and the company, with its global expertise would be in a position to increase its market share, he said.

Last year, the company had a turnover over of Rs 150 crore, he said. According to Mr Ramachandran, since the company is operating in niche areas in the logistic business, it is in a position to earn better margin in the vanilla freight forwarding business.

He said the completion of the merger of Indian company with the Swiss group will come along with a changed logo, corporate design and group colours signifying a total integration. The $500-million M+R employs 1,600 people and has 72 branches across the globe.

Related Topics
comment COMMENT NOW