Aweca Sherif to focus on furniture
By Venkatachari Jagannathan | 04 Dec 2001
Chennai: The city-based Rs 100 crore turnover Sherif Dyan group and the Agis Aweca group, Germany, have firmed up their one-year-old freight-forwarding business association into a 51:49 joint venture.
The German company is holding the majority stake in the Rs 50 lakh equity-base of Aweca Sherif Logistics India. Agis Aweca MD Karl Schweikle says the joint venture company, apart from moving other goods, will concentrate on furniture. "The new company will target furniture movement from the Jaipur-Jodhpur-Delhi belt that is of considerable volume."
About the joint venture Sherif Dyan, chairman of the Indian group, said: "The partnership with the German company will enable us to get competitive rates from shipping lines apart from providing quality service to our clients. It also fits well within the group's mission of offering comprehensive logistics solution."
The German group handles approximately 75,000 TEUs (twenty-foot equivalent units) worldwide. The company is focused especially on products like furniture, textiles and electronic items. It also offers value-added services like tracking and tracing.
Dyan says the joint venture company hopes to handle 1,000 containers per month covering cities like Calcutta, Delhi and Mumbai.