Friday, May 8, 2015

CMA-CGM takes India logistics stake

The CMA CGM Group, one of the world's leading global containers shipping companies, is pleased to announce that it has taken a strategic stake in the 25-years old company LCL Logistix, one of India's logistics leaders, via the Group's subsidiary specialized in freight forwarding and logistics solutions.

CMA CGM LOG reinforces its position in India and will leverage LCL Logistix's Indian network as well as its presence in Canada, in the United States and in East Africa to accelerate its development. Thanks to this strategic stake, CMA CGM LOG expands both its product offering and its geographic coverage, including in emerging countries where logistics solutions demand is high

Created in 2001, CMA CGM LOG is the CMA CGM Group's subsidiary specialized in freight forwarding and logistics solutions. Its 500 experts offer logistics solutions that are complementary to maritime services in 32 countries, including air freight, multimodal transport, custom clearance, warehousing and distribution... After a sustained growth in 2014 and the opening of offices in 6 new countries, CMA CGM LOG accelerates its development in 2015

LCL Logistix is a freight forwarding leader in India based in Mumbai. LCL revenues amounted to circa USD 120 million for the fiscal year 2014. Present across India, LCL Logistix also operates 3 CFS in strategic locations: in Nhava Sheva, where CMA CGM has vessels calling, in Haldia (West Bengal) and in Pipavav (Gujarat). As a logistics specialist, LCL Logistix has a 25-years old expertise and a 42 office network in India and abroad. In order to pursue the company's development, its management team will be maintained.

Mathieu Friedberg, vice president Freight Forwarding and Logistics activities said: "By taking this stake, CMA CGM LOG improves its logistics offer and has LCL Logistix benefit from its international network. 2015 will see CMA CGM LOG's development accelerate thanks to the new synergies generated by this investment, but also with the implementation of CMA CGM LOG in 12 new countries."