Wednesday, April 13, 2016

Asian Freight Forwarding Leader Extends Logistics Services with Further Investment in India

New Branding for Established Supply Chain Group
Shipping News Feature
ASIA – Kerry Logistics, one of the primary freight forwarding outfits in the region, has further extended its influence and supply chain network in the subcontinent with a new memorandum of understanding committing to increase its stake in Indev Logistics Pvt from 30% to 50%. Indev, headquartered in Chennai, has rebranded to become Kerry-Indev Logistics at a ceremony held earlier today.

The high profile move was made in New Delhi before the top executives from both companies with Ms Nirmala Sitharaman, Minister for Commerce and Industry of India, as the Guest of Honour. George Yeo, Chairman of Hong Kong headquartered Kerry Logistics said:

“India has become one of the fastest-growing economies in Asia. We see the introduction of Goods and Services Tax (‘GST’) and the current campaign to ‘Make in India’ as being very positive for the quantitative and qualitative expansion of the logistics industry.

“We thank the Government of India for its continued support to our operations in the country. We have always held an optimistic view of India’s potential, and are pleased to be strengthening our partnership with INDEV to tap into the opportunities that are emerging. Kerry Logistics’ strength in providing customised supply chain solutions to different industries and INDEV’s strong presence and network in India make Kerry-INDEV Logistics a strong pan-Indian combination which we hope can make a contribution to the country's growth and development.”

Indev was established in 1984 and claims a strong presence across the country with award winning facilities including bonded warehouses, container freight stations and as an NVOCC with its own container fleet. Kerry currently has more than 550 office locations in 40 countries and territories, and is managing 45 million square feet of logistics facilities worldwide.

Photo: Nirmala Sitharaman, Minister for Commerce and Industry of India (middle) and George Yeo, Chairman of Kerry Logistics (3rd right) attended the joint venture launching and re-branding ceremony between Kerry Logistics and Indev Logistics.