Swiss M+R Spedag acquires India's PL Shipping & Logistics

SWISS-based M+R SPEDAG Group has announced its acquisition of India's PL Shipping & Logistics Pvt Ltd to soon operate under the M+R Spedag Group name.

But PL Shipping & Logistics will continue to operate under its name for the next few months, and the initial period will be used to integrate the company.

The acquisition helps the M+R Spedag Group to gain access to the fast-growing Indian market. The organisational structure of PL Shipping & Logistics remains unchanged with R Ramkumar continuing as managing director and R Jayaram serving as chief operating officer while Daniel Richner takes over as chairman.

"This integration will provide customers and agent partners access to an extended Asian network, enhanced IT capabilities and a wider scope of services," said a joint statement.

M+R Spedag is an forwarding and logistics company founded in 1952 and today has a network of 1,300 employees working from 60 offices worldwide. M+R Spedag annual revenue was CHF480 million (US$474.31 million). It is ISO 9001/2000 certified and provides sea freight, air freight, warehousing. Its total shipping volume in 2008 reached 200,000 TEU.

Chennai-based PL Shipping & Logistics was founded in 2001 and provides forwarding across India, including ocean freight, air freight, customs brokerage and logistics services as an NVOCC. It employs 350 people and has an annual revenue of INR1.3 billion ($22.83 million).
(Source:www.schednet.com)