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Tue 1 May 2007 12:39 PM

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DHL revamps Indian joint venture

DHL is planning to restructure its partnership with Lemuir Group in India.

DHL is planning to restructure its partnership with Lemuir Group in India.

The two companies currently operate a joint venture, with DHL owning a 49% stake and Lemuir owning a 51% stake. Following a proposed revision of this agreement, which is subject to regulatory approvals, DHL's stake will increase to 76%, with the remaining 24% held by Lemuir.

"India is one of the fastest growing markets for DHL Express in the Asia Pacific region," said Scott Price, chief executive officer of DHL Express in Asia Pacific. "We have aggressive expansion plans for India as part of our vision for growth in the region. We have made significant investments in expertise, technology, knowledge transfer, infrastructure and distribution networks in the region."

Approximately 200 employees are hired through the current joint venture between DHL and Lemuir Group, operating in 21 offices and warehouse facilities throughout India. These figures are expected to grow considerably in the future, especially with the generous predictions for growth in the industry. The international airfreight business for India is forecasted to achieve 14% CAGR (compound annual growth rate) between 2006 and 2009.

"As the industry leader, we are committed to increasing the pace of growth of the express industry, based on strong fundamentals and infrastructure development," added Price.

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