Kerry logistics Network limited (‘Kerry logistics’ or the ‘Company’, Stock Code 636.HK), a leading logistics service provider in Asia, announced that it has entered into a Memorandum of Understanding (MoU) on Wednesday in the presence of Minister for Commerce and Industry of India, Nirmala Sitharaman.
To increase its stake in Indev logistics Pvt. ltd. ('INDEV'), a well-established Indian logistics company headquartered in Chennai, as the Company takes on an increasingly positive view of India’s economic prospects. Also in attendance were the top management from Kerry logistics and INDEV. The strategic move will see INDEV rebranded as Kerry-INDEV, reflecting Kerry logistics’ growing capabilities and ambition to becoming a major pan-Indian logistics company with India Focus and member of a China Specialist Global Network.
Indev will become the key member of Kerry logistics network in India. Kerry has the expertise in Supply Chain Management and will immensely benefit Indev in India. In alignment with Government’s ‘Make in India’ policy, Kerry Indev will design industry specific products & solutions to move goods across to Continents using the Kerry logistics Global Network in the most efficient manner bringing down the logistics cost.