[photopress:logistics_DhL_logistics.jpg,full,alignright]DHL’s parent company, Deutsche Post World Net (DPWN), will buy the remaining 50% of Sinotrans-Exel, which is a joint venture, in China.
Exel and DHL business units will be amalgamated under the DHL Logistics brand in China.
Peter Landsiedel, DHL Global Forwarding’s Asia-Pacific CEO,, said, ‘DHL and Sinotrans have had, and continue to have, an ongoing and mutually beneficial relationship in the logistics and express industry in China.
‘The agreement to sell its 50% stake in the Sinotrans-Exel JV is strategically relevant to each organisation, and is a move that suits both groups’ long-term objectives and approach towards developing and maintaining a market leadership position in China’s booming logistics industry.’
Last month, DHL announced a US$175 million investment for its new Shanghai-based North Asia Hub, bringing the company’s total recent investment in the region to just over US$2.2 billion.
Victor Mok, DHL Global Forwarding’s senior vice president for Greater China, emphasized that Sinotrans and DHL Logistics remain strong business partners, and future collaborative efforts will be in line with both groups’ China expansion plans.
Source: Eye for Transport
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