The CMA CGM Group has acquired a stake in LCL Logistix, one of India’s leading logistics companies, via its freight forwarding and logistics solutions subsidiary CMA CGM LOG.
The company said the move would reinforce its position in India and leverage LCL Logistix’s Indian network as well as its presence in Canada, the US and in East Africa.
“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,” it stated in a press release
Established in 2001, CMA CGM LOG offers logistics solutions that are complementary to the group’s maritime services in 32 countries, including air freight, multimodal transport, custom clearance, warehousing and distribution amongst others. Having achieved sustained growth in 2014 and opened offices in six new countries, the company plans to accelerate its development in 2015.
With annual revenues of US$120m, Mumbai-based LCL Logistix operates throughout India, including in Nhava Sheva, where CMA CGM has vessels calling; Haldia (West Bengal) and in Pipavav (Gujarat); and has a 42 office network in India and abroad. In order to pursue the company’s development, its management team will be maintained, the statement said.