DB Schenker acquires 100 percent stake in Logistics arm in Vietnam
DB Schenker strengthens its foothold in Vietnam’s logistics arena with the recent acquisition of the outstanding 49 percent 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 percent of shares and the latter with 49 percent 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 Co., Ltd.
The integration process will follow immediately. 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.
"Among our customers are top global and local brands operating in Vietnam. They rely on DB Schenker to provide expert and experienced solutions to their business needs. This recent acquisition stamps our commitment to this promise and to sustainable investments in Vietnam," adds Thorsten Kipp, Head of Contract Logistics of Schenker Vietnam Co., Ltd.
Schenker Vietnam Co., Ltd., DB Schenker’s business entity in Vietnam, was established in 1991 and is one of the leading and earliest established logistics companies in the country offering a full range of logistics and transportation services which includes Contract Logistics and Supply Chain Management, Air and Ocean Freight, National Transportation, Landbridge Asia, and Special Services like Removals and Logistics for Fair.
Last modified: 07.08.2014