Hitachi, Kintetsu form Japan joint venture
Japanese logistics company Hitachi Transport System has formed a joint venture with Kintetsu World Express to develop heavy lift and project cargo services.
The joint entity, Project Cargo Japan Inc., will begin operation July 1.
'Both companies want to develop global services of heavy and project transport mainly in the social infrastructure and energy industries,' Hitachi said in a statement. 'They also want to develop international moving and relocation services for corporate manufacturing and other bases.'
Hitachi will hold a 51 percent stake and Kintetsu World Express the remaining 49 percent.
In April, Hitachi bought a large stake in another Japanese logistics company, Vantec Corp., with the intention of becoming a more global player in the logistics market, the company said.