CMA CGM Group acquires strategic stake in LCL Logistix

Freight forwarding and logistics subsidiary CMA CGM LOG plans to expand into a dozen countries this year.    CMA CGM has purchased a strategic stake in the 25-year-old Indian logistics company LCL Logistix through CMA CGM LOG, its freight forwarding and logistics subsidiary.
   Based in Mumbai, LCL Logistix had revenues of approximately $120 million for the fiscal year 2014. The company has 42 offices in India and other countries, and container freight stations in Nhava Sheva, where CMA CGM has vessels call, Haldia, and Pipavav. CMA CGM said it will maintain the current LCL management team.
   “CMA CGM LOG reinforces its position in India and will leverage LCL Logistix’s Indian network as well as its presence in Canada, in the United States and in East Africa to accelerate its development. Thanks to this strategic stake, CMA CGM LOG expands both its product offering and its geographic coverage, including in emerging countries where logistics solutions demand is high,” the company said.
   Mathieu Friedberg, a vice president freight forwarding and logistics activities at the French shipping company said in 2015 CMA CGM LOG plans to expand into 12 new countries after having opened offices in six countries last year.
   Created in 2001, CMA CGM LOG employs 500 and currently offers services in 32 countries, including air freight, multimodal transport, custom clearance, warehousing and distribution.