CMA CGM Group acquires 60% stake in India’s LCL Logistix

Leading global container shipping groups CMA CGM Group, has acquired a 60-per cent stake in Indian logistics company LCL Logistix. The acquisition has been carried out through the group's logistics subsidiary, CMA CGM LOG that specialises in freight forwarding and other logistics services.

''CMA CGM LOG reinforces its position in India and will leverage LCL Logistix's Indian network as well as its presence in Canada, in the United States and in East Africa to accelerate its development,'' the company said in a statement.

The acquisition will help CMA CGM expand both its product offering and its geographic reach, including in emerging countries where demand for logistics solutions is high, CMA CGM said.

CMA CGM LOG, created in 2001, offers logistics solutions that are complementary to maritime services in 32 countries, including air freight, multi-modal transport, custom clearance, warehousing and distribution, the company said.

After a sustained growth in 2014 and the opening of offices in six new countries, CMA CGM LOG accelerates its development in 2015.

With offices across India, LCL Logistix operates three container freight stattions in strategic locations, including at Nhava Sheva, where CMA CGM has vessels calling, in Haldia (West Bengal) and in Pipavav (Gujarat). LCL Logistix has a network of 42 offices in India and abroad.

CMA CGM said it would maintain LCL's present management team in order to pursue the company's development.

CMA CGM, founded and led by Jacques R Saadé, is the world's third largest and France's top container shipping company. With 445 vessels that call more than 400 ports in the world, on all 5 continents, CMA CGM carried over 12.2 million TEUs (twenty-foot equivalent units) in 2014.

CMA CGM last month reported higher profits and record sales of $16.7 billion for 2014, supported by strong volumes and lower costs.