DHL completes strategic partnership transaction with Polar Air Car

Kolkata, Jun 29 (UNI) DHL, a leading express and logistics company, today announced that it has successfully completed the transaction to form a strategic partnership with Polar Air Cargo Worldwide, Inc.

As part of this transaction, DHL Express would invest US0 million for a 49 per cent stake.

''We are pleased with the completion of this partnership with Polar Air Cargo, which is a strategic thrust instrumental in positioning DHL as the global express and logistics provider of choice,'' DHL Express Global CEO John Mullen.

''The new partnership shortens the global supply chain for our customers and improves trade lanes by connecting the major markets on both sides of the Pacific,'' DHL Express (Asia Pacific) Acting CEO Dan McHugh said.

This significant move reinforces DHL's role as a trade facilitator, and positions us ideally for even greater growth in Asia Pacific and the US, he said.

DHL has been an active champion of growth for Asia Pacific, its fastest-growing region in the world. It has been investing heavily on capacity expansion in Asia Pacific to anticipate the growth since early 2000. This partnership also serves as a testament to DHL's pursuit of providing best-in-class product and service offerings to secure customers' loyalty in the region. It will not only ensure capacity for future growth, but will also provide its customers with quicker time-to-market capabilities between the regions.

UNI