DB Schenker’s Vietnam JV now fully owned
DB Schenker has strengthened its foothold in Vietnam’s logistics arena with the recent acquisition of the outstanding 49 per cent of the shares in its joint venture with Gemadept Logistics.
September 1, 2014
DB Schenker has strengthened its foothold in Vietnam’s logistics arena with the recent acquisition of the outstanding 49 per cent of the shares in its joint venture with Gemadept Logistics. Schenker Gemadept Logistics was formed in July 2007 to provide logistics and supply chain services through an agreement between Schenker Vietnam Co., Ltd. and Gemadept Logistics, with the former holding 51 per cent of shares and the latter with 49 per cent of shares.
“DB Schenker has been delivering top-class logistics solutions in Vietnam for over twenty years and remains committed to growing this energetic market hence this move to acquire full ownership of Schenker Gemadept Logistics,” says Juergen Braunbach, CEO of Schenker Vietnam. The integration process will follow immed i atel y, the company said, adding that the new set-up will allow further roll out of DB Schenker’s established solutions for customers from various vertical markets such as Electronics, Retail and Consumer Goods.
Last month Schenker announced another Asian development with a new hub in Osaka, Japan in order to expand the group’s intermodal freight service between North Asia and Europe. The principal plan being to combine air and ocean cargo services giving a 50 per cent cut in transit times both to customers in the region with a knock on effect for US based clients rather than the current routing via Dubai.