Announcement of the establishment of a joint venture in India
This is to announce that we will establish a joint venture in
India with Gati Ltd. (hereinafter referred to as Gati), a
distribution services company in India, as resolved at the
board meeting held on February 13, 2012, as follows:
1. Reason for the Establishment of the Joint Venture
The KWE Group has carried out business operations, mainly in
the field of international freight forwarding services. In
July 1997, the Kintetsu World Express (India) Pvt. Ltd. (KWE
India) in India was established. To further boost the volume
of Indian cargo we handle on a global scale in future, we
have decided to establish a company through joint investment
with Gati, a major distribution services company in
India.
Gati, established in 1989, provides a wide variety of
distribution services, including logistics, international
freight forwarding, vessel operations services, with domestic
freight forwarding (truck, air, and railroad)/door-to-door
delivery services as its core business. As for domestic
freight forwarding services, the company provides high
value-added delivery services India-wide, such as the
fixed-delivery-time service, automated messaging service to
send POD (Proof of Delivery) information to respective
clients' terminal devices via GPS, and others. Gati has
about
4,000 trucks in operation and more than 500 district offices
in India.
This alliance, which will combine the KWE Group's global
network and Gati's high-quality domestic distribution
services, is expected to increase the handling volume in the
Indian business on a global scale.
In the rapidly growing Indian market, the KWE Group,
spearheaded by KWE India, will actively promote sales
together with the joint venture, work to enhance its presence
in the Indian distribution business, improve its global
competitiveness, and expand the business.
2. Overview of the Joint Venture
(1) Company name Gati- Kintetsu Express Private Ltd. (2) Head
Office To be determined
(3) Representative To be determined
(4) Description Domestic freight forwarding services
logistics (to be planned for business succession from Gati)
(5) Capital To be determined
(6) Founded (Scheduled for) April 2012
(7) Investment ratio 70% by Gati, 30% by the KWE Group
(8) Investment amount of our group Approx. 2.7 billion INR
(9) Fiscal year ends in June
3. Overview of the Joint Venture Partner
(1) Company name Gati Ltd. (listed in the Indian Stock
Exchanges)
(2) Head Office 1-7-293, M.G.Road, Secunderabad - 500 003,
India
(3) Representative Mahendra Agarwal / CEO
(4) Description Domestic freight forwarding services (truck,
air, and railroad),
door-to-door delivery services, logistics, international
freight forwarding, vessel operations services, etc.
(5) Capital 172.3 million INR
(6) Business performance for the latest business year (June
2011) Consolidated revenue 12,094million INR
Profit before tax 237 million INR (7) Founded 1989
(8) Number of employees Approx 3,500
(9) Relations with KWE
There is currently no capital, business and personal
relationship to note.
4. Schedule
Board meeting resolution February 13, 2012
Joint venture agreement signing February 13, 2012
Joint venture establishment & Start of operation April 2012
(scheduled)
5. Future prospects
The establishment of the above joint venture will not affect
the consolidated financial statements of our company for the
financial year ending in March 2012.
distribué par | Ce noodl a été diffusé par KWE - Kintetsu World Express Inc. et initialement mise en ligne sur le site http://www.kwe.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-02-13 07:59:32 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Announcement of the establishment of a joint venture in India |