Kintetsu World Express stops Russian trucking JV before it starts

Kintetsu World Express has announced the dissolution of its planned 50:50 joint venture with South Korea-based Unico Logistics, less than two weeks before it was due to begin.

Announced less than two months ago, the aim of the Moscow-headquartered Kintetsu-Unico Logistics joint venture was to provide truck transport within Russia and to other CIS countries.

KWE said the reason for abandoning the joint venture is that the parties believe that the plans outlined were still premature.

Source: http://www.eyefortransport.com