KUALA LUMPUR, Sept 24 -- Nippon Express Co Ltd, acting through its subsidiary, Nippon Express (South Asia & Oceania) Pte Ltd has agreed to make an investment in India’s Future Supply Chain Solutions Limited (FSC).
The company’s board during its recently-held meeting approved the execution of a Share Subscription Agreement and Shareholder Agreement with FSC and a Share Purchase Agreement with some FSC shareholders.
FSC is among India’s leading logistics service providers and a part of the Future Group, India’s largest retail group.
The Nippon Express Group aims to become a logistics company with a significant presence in the global markets as laid out in the ‘Nippon Express Group Business Plan 2023 - Dynamic Growth’, beginning financial year 2018.
The group’s core strategy is to focus on strengthening its India business to capitalise on the rapid growth expected in the Indian logistics market.
The partnership with FSC will add complementary capabilities to Nippon Express and enable it to provide end-to-end logistics services to its customers, resulting in the growth of its Indian logistics business.
-- BERNAMA
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