Archive for the 'Direct Logistics' Category

Barely four months after acquiring one Chinese logistics company the Indian companuu Direct Logistics India, which is based in Mumbai, is looking to make another purchase. Late last year it bought China-based Shenzhen Dida Logistics for an undisclosed amount. This was the first ever acquisition by an Indian company in the Chinese freight forwarding industry.

Direct Logistics’ financial adviser, Ambit Corporate Finance, is now in talks with a few international and domestic private equity firms arranging funds for the company’s new acquisition.

Sunil Devrani, chief executive and managing director of Direct Logistics, said, ‘We are looking at buying out a supply chain management company in China which will help us in transforming to a complete logistics solution company instead of just freight forwarding firm.’

He intelligently declined to disclose the target company and the prospective investors in Direct Logistics. Sunil Devrani said the fund-raising and acquisition would be concluded in the next three months.
Source: LiveMint.com

The organizer of the Asian International Transport and Logistics Exhibition said the output value of China’s logistics industry is expected to grow 20% annually to reach RMB1.2 trillion in 2010.

In 2006, added value of China’s logistics industry rose 12.1% over the previous year, accounting for 17.1% of the total added value in service sectors, up from 16.5% in 2005.

To date, more than 20 provinces and 60 cities have initiated logistics development plans.

The exhibition, co-organized by the British-based Reed Exhibitions and the China Council for the Promotion of International Trade (CCPIT) is being held in Shanghai and has attracted 6,000 delegates from more than ten countries, including Russia, France, Belgium and Spain.

All of which you would see as good news but, sadly, the cost of logistics as applied to goods in China is about double that in the United States. This exhibition may go some part way to bring those figures closer together.
Source: China View

Mumbai-based Direct Logistics, a freight forwarding company, has acquired a Chinese logistics company, Shenzhen Dida Logistics, for an undisclosed amount.

This is the first-ever acquisition by an Indian company in Chinese freight forwarding industry. Last year, another Mumbai-based port-based logistics company Allcargo Global Logistics acquired ECU Hold NV, a leading Belgian cargo transportation company.

Direct Logistics, which is in the process of setting up its own office in China, is currently into warehouse-to-warehouse international transportation and marine insurance, apart from cargo.

Shenzhen Dida is focused on freight forwarding, logistics and international transportation. Sunil Devrani, managing director of Direct Logistics, said, ‘We have signed an agreement with Shenzhen Dida for acquiring 100% shares.’
Source: Wall Street Journal