Kerry Logistics ups stake in Indian logistics company

The Hong Kong-based logistics services provider entered into a memorandum of understanding to increase its stake in Indev Logistics Pvt. Ltd. from 30 percent to 50 percent.    Kerry Logistics Network Ltd. entered into a memorandum of understanding to increase its stake in the Chennai, India-based logistics company Indev Logistics Pvt. Ltd. (INDEV) from 30 percent to 50 percent, Kerry Logistics said.
   As a result, INDEV will be re-branded as Kerry-INDEV Logistics.
   “We have always held an optimistic view of India’s potential, and are pleased to be strengthening our partnership with INDEV to tap into the opportunities that we see emerging,” Kerry Logistics Chairman George Yeo said. “Kerry Logistics’ strength in providing customized supply chain solutions to different industries and INDEV’s strong presence and network in India make Kerry-INDEV Logistics a strong pan-Indian combination, which we hope can make a contribution to the country’s growth and development.”
   Based out of Hong Kong, Kerry Logistics specializes in integrated logistics, international freight forwarding and supply chain solutions, featuring a network that spans across six continents.