Concor, DB Schenker sign MoU for exim, domestic business
Concor, DB Schenker joining hands to provide bouquet of end-to-end services in a seamless manner
(From left): Kinjal Pande, CEO, India and Indian Subcontinent, DB Schenker and Sanjay Swarup, CMD, Concor
Container Corporation of India (Concor) and Schenker India (DB Schenker), one of the leading Logistics companies, signed an MoU on December 19, 2023 in New Delhi to collaborate for exim & domestic business.
The MoU was signed in the presence of Sanjay Swarup, CMD, Concor and Kinjal Pande, CEO, India and Indian Subcontinent, DB Schenker, according to a release by Concor to the stock exchanges.
"CONCOR and DB Schenker are leaders in their respective fields, and the two organisations are joining hands to provide bouquet of end-to-end services in a seamless manner for customers which would also help in further improving India’s position in ‘ease of doing business’ that is a prime focus area for the Government of India," says Swarup.
Pande adds: "This strategic collaboration marks an important milestone in our commitment to provide enhanced sustainable products to our customers. Road continues to be the dominant mode of transport in India and through this strategic partnership for rail freight, we want to significantly change the trend towards a low carbon future.”
DB Schenker up for sale
Deutsche Bahn has launched the sale process for its logistics subsidiary DB Schenker.
"The international logistics market offers excellent prospects for long-term growth. As one of the world's top four logistics companies, DB Schenker has a solid position within the market. DB Schenker has contributed very positively to the DB Group's economic growth over the years. However, the DB subsidiary will need more capital and flexibility for its own growth."
Banking sources have said DB Schenker could be worth as much as €20 billion ($22 billion).
