DB Schenker completes Vietnam JV purchase

DB Schenker has strengthened its foothold in Vietnam’s logistics arena after taking a 100 per cent stake in its joint venture, Schenker Gemadept Logistics.
The Germany-based logistics giant has bought the remaining shares in the company, formed in July 2007 to provide logistics and supply chain services through an agreement between Schenker Vietnam and Gemadept Logistics, the latter holding 49 per cent.
The integration process will follow immediately, said DB Schenker: “The new set-up will allow further roll out of DB Schenker’s established solutions for customers from various vertical markets such as electronics, retail and consumer goods.”