Samvardhana Motherson and Hamakyorex form JV for Finished Vehicle Logistics in India

Apr 12, 2019   Supply Chain

Japanese Logistics provider, Hamakyorex Co., Ltd., and Indian Component Manufacturer, Samvardhana Motherson International Limited (SAMIL), have formed a joint venture to undertake Finished Vehicle Land Transportation within India.

With the Indian Automotive sector experiencing significant growth, Hamakyorex group wanted to further expand and grow its business in the country. Samvardhana Motherson turned out to be the perfect partner to do so owing to the compnay's significant experience in the local automotive sector.

 

Through this joint venture, the Japanese logistics provider will not only expand their 3PL businesses in Japan but also increase the size of their logistics business within India. The JV is planning to start operation in June.

 

Operating under the name 'Samvardhana Motherson Hamakyorex Engineered Logistics Limited', the JV will be based in New Delhi's NCR region. With an investment of nearly INR920 million ($12.88 million), the two companies will equally own 50% of the shares of the new venture. Arjun Kochhar will be the COO of the new entity.

 

 

Vivek Chaand Sehgal, Chairman, Samvardhana Motherson Group said, “We are happy to welcome our 27th collaboration partner into the Motherson family. We are confident that the synergies are in place and that together, we can offer our customers greater solutions.” 

 

Osuka, chairman, Hamakyorex said, “I believe India is the country which will lead the global economy from now on. This JV would do the best in India which has so much potential, bringing synergetic effects as well as contributing distribution efficiency to customers.”

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