DHL

Mumbai, May 24 (UNI) The international express and logistics industry, DHL and Indian logistics industry Lemuir group today announced that Deutsche Post World Net and Lemuir will consolidate their joint venture in India.

Deutsche Post World Net with 76 per cent stake holding and Lemuir with 24 per cent stake holding will enter into the joint venture named 'DHL Lemuir Logistics Private Limited'.

The consolidation will combine the business of DHL Danzas Lemuir Pvt Ltd and Exel India Private Limited and will position DHL as the leader in International Freight Forwarding, Supply Chain Management and Customs Brokerage in India, DHL release said.

The global CEO, DHL Logistics John Allan, said, '' Upon the completion of the consolidation and integration in India, the DHL Logistics business will be bigger, better and stronger. India is of strategic importance to DHL in Asia Pacific. This consolidation will create a strong platform to enable us leverage the opportunities in the logistics sector in India.'' According to DHL, the Indian logistics market is estimated to be around USD 45 billion and by 2015, it is expected to reach almost USD 122 billion. Logistics market in India is growing at a compounded rate of over 11 percent, which is higher than the growth rate of the Indian economy.

UNI