Japan: KWE and Unico drop Russian plans

Japanese global forwarder Kintetsu World Express Inc (KWE) has officially announced the dissolution of a planned new joint venture Russian trucking business just two weeks before the operation was due to have started, saying the plans were "premature". In early July, KWE said it had established a partnership with South Korean group Unico Logistics Co […]


Japanese global forwarder Kintetsu World Express Inc (KWE) has officially announced the dissolution of a planned new joint venture Russian trucking business just two weeks before the operation was due to have started, saying the plans were "premature".

In early July, KWE said it had established a partnership with South Korean group Unico Logistics Co Ltd, to establish a joint company in Russia from 1 September to meet the strong demand for truck transport from major South Korean conglomerates which had established plants and other business sites in Russia.

KWE said the new company, to be called Kintetsu-Unico Logistics LLC, would have its headquarters in Moscow and paid up capital equivalent to €1.2m, with the investment split 50/50 between the two Asian partners. The joint company would focus on providing truck transport within Russia and to other CIS countries. The initial plan, said KWE, was to operate 20 owned large trucks, equipped with GPS (global positioning system), plus accompanying chassis.