Apollo LogiSolutions Limited, a 100% subsidiary of the Raaja Kanwar-led Apollo International Limited, has announced a joint venture with leading European logistics provider FIEGE Logistics. The joint venture company, which has been named Apollo FIEGE Integrated Logistics Private Limited, will commence business operations in India with immediate effect.Apollo FIEGE, headquartered in Gurgaon, will offer integrated logistic services like customs brokerage, freight forwarding, contract logistics, transportation and other value added services across a range of business sectors including pharmaceuticals, luxury, telecom, automobile, e-commerce and renewable energy. Some key customers currently using the company’s services are Swatch, Bulgari, Aurbindo Pharma and Home Shop18, among others.
Mr. Raaja Kanwar, Director, Apollo LogiSolutions Limited, said: “When we forayed into the logistics segment in 2007 we aimed at expanding business operations in the 3PL (Third Party Logistics) space. FIEGE Logistics is a pioneer in the field of contract logistics and will bring the requisite expertise to provide end- to-end integrated logistics services in India. We are looking forward to working closely with FIEGE Logistics.”
“We are targeting a total India turnover of USD 100 million over the next 2-3 years, which will place the company among the top 5 integrated logistics providers in India,” said Mr. Arjun Vohra, Chief Executive Officer (CEO), Apollo FIEGE Integrated Logistics Private Limited.
As part of its planned in-country expansion, the company will invest in excess of USD 10 million over the next 2-3 years, beginning by expanding network of offices across 20 locations by March 2013 which include New Delhi, Mumbai, Pune, Bangalore, Chennai, Hyderabad, Kolkata, Ludhiana, Jaipur, Tuticorin, Aurangabad, Cochin and Surat.
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