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October 23, 2007

VIETNAM-GERMANY
German-Vietnam Joint Venture Constructs Southern Logistics Hub
The Schenker-Gemadept Logistics Vietnam Co. broke ground for a 15,000 sq.m logistics hub in the Song Than Industrial Park in Binh Duong Province on Friday.

Speaking at the groundbreaking ceremony, Juergen Braunbach, a director of SGL, said the new facility would provide top quality warehouse space that was badly needed in the local market.

He said some of the world's finest companies were now investing and looking for world-class logistics.

Braunbach said the new logistics hub would serve both export companies with its container freight station, as well as international companies from the growing hi-tech industry around Ho Chi Minh City.

SGL is a joint venture between Schenker, one of the world's leading providers of integrated logistics services, and the HCM City-based General Forwarding and Agency Corporation (Gemadept).

The managing director of Gemadept, Do Van Minh, said the local partner contributed 49 per cent to the joint venture, which was capitalised at US$5.5 million.

"We had made survey trips to Schenker's modern logistics systems in Hong Kong, Shenzhen and Singapore, and we believed that the same facilities will soon be developed in Vietnam," said Minh.

"Our world-class logistics centre will be built soon to provide top quality logistics services for our customers."

The new logistics hub, scheduled to be completed by March 2008, will significantly strengthen the capabilities and capacity of Schenker in Vietnam.

This will add to the three Schenker offices and over 120 staff operating in the country since 1991.

With annual sales of 13.2 billion euros, 55,000 employees and about 1,500 offices around the world, Schenker is offering land operations, air and ocean freight as well as comprehensive logistics solutions and global supply chain management.

Schenker and BAX Global are in the process of integrating around the world. Courtesy VNA

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