GeoPost, the express parcel arm of French Groupe La Poste, and Continental Air Express Pvt Ltd, an associate company of the Vohra family owned Continental Carriers Group, announced the setting up of a joint venture company.
The new Joint Venture (JV), called DPD Continental Pvt. Ltd., will offer inbound and outbound express parcel services under the world-class brand DPD to customers in India.
Headquartered in Aschaffenburg, Germany, DPD is a domestic and international parcel and express company with a network of more than 500 depots and agencies in over 40 countries.
GeoPost International Management & Development Holding GmbH has a 83.32 percent shareholding in DPD, while the balance is held by DPD Systemlogistik GmbH & Co. KG (10.47 percent) and DPD Zeitfracht GmbH & Co. KG (6.21 percent).
The Foreign Investment Promotions Board, Government of India, had recently approved the application of GeoPost Intercontinental SAS and Continental Air Express Pvt. Ltd. to establish the joint venture.
GeoPost Intercontinental, the international expansion vehicle of GeoPost, will hold 60% shares in the Joint Venture, while the balance 40% will be held by the Vohra family.
Mr. Gautam Nath has been appointed CEO of DPD Continental Pvt. Ltd.
The joint venture company will be head quartered in New Delhi, India.
In the initial phase, DPD Continental Pvt. Ltd. will offer its services in New Delhi & Mumbai. The second phase will see operations being rolled out across several major cities in the country including Bangalore, Chennai and Kolkatta by the end of 2009.
2 comments ↓
Isnt the express cargo business already overcrowded? Why then are such investments still happening? Are such moves an act of desperation because growth is flat worldwide.
Please send us the contact details of DPD express parcel services in India
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