CMA CGM Group's subsidiary buys strategic stake in India's LCL Logistix
The CMA CGM Group, one of the world’s leading global containers shipping companies, is pleased to announce that it took a strategic stake in the 25-years old company LCL Logistix, one of India’s logistics leaders, via the Group’s subsidiary specialized in freight forwarding and logistics solutions, the Group said on Monday.
"CMA CGM LOG reinforces its position in India and will leverage LCL Logistix’s Indian network as well as its presence in Canada, in the United States and in East Africa to accelerate its development. 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," the Group's press release said.
Created in 2001, CMA CGM LOG is the CMA CGM Group’s subsidiary specialized in freight forwarding and logistics solutions. Its 500 experts offer logistics solutions that are complementary to maritime services in 32 countries, including air freight, multimodal transport, custom clearance, warehousing and distribution… After a sustained growth in 2014 and the opening of offices in 6 new countries, CMA CGM LOG accelerates its development in 2015.
LCL Logistix is a freight forwarding leader in India based in Mumbai. LCL revenues amounted to circa USD 120 million for the fiscal year 2014. Present across India, LCL Logistix also operates 3 CFS in strategic locations: in Nhava Sheva, where CMA CGM has vessels calling, in Haldia (West Bengal) and in Pipavav (Gujarat). As a logistics specialist, LCL Logistix has a 25-years old expertise and a 42 office network in India and abroad. In order to pursue the company’s development, its management team will be maintained.
Marseille-headquartered CMA CGM was founded in 1978 by Jacques R. Saadé. Today the French company has become the world’s third largest container shipping group and number one in France operating across the world’s oceans. It is also one of the first global shipping operators to have control over the whole logistics chain offering a door-to-door service that integrates both inland waterway transport (River Shuttle Containers) and railways (CMA Rail), as well as port handling facilities and logistics on land.
