The leading service providers of the third party logistics (3PL), Mahindra Logistics (MLL) has entered into a partnership agreement with Mumbai-based Indian Vehicle Carriers (IVC), and has named the new entity as 2X2 Logistics.
31 Oct 2014 | 3042 Views | By Autocar Pro News Desk
The leading service providers of the third party logistics (3PL), Mahindra Logistics (MLL) has entered into a partnership agreement with Mumbai-based Indian Vehicle Carriers (IVC), and has named the new entity as 2X2 Logistics. With MLL having a majority stake in the new company, it has been announced that the ...
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The leading service providers of the third party logistics (3PL), Mahindra Logistics (MLL) has entered into a partnership agreement with Mumbai-based Indian Vehicle Carriers (IVC), and has named the new entity as 2X2 Logistics. With MLL having a majority stake in the new company, it has been announced that the company will invest in 100 specially designed car carriers in the first phase for improving the state of current operations in automotive logistics.
“It will help strengthen our operating capabilities in automotive logistics, our largest target industry vertical, with a clear focus on technology, quality and corporate governance. Forming such partnerships with our business associates will be an important part of our growth and success,” said Pirojshaw Sarkari, CEO, MLL.
As OEMs expand their product lines in India, we see a significant potential for car carriers which are specially designed to meet a variety of needs, both in terms of dimensions of the vehicles being carried as well as special handling requirements. We will have a very specific focus on design innovation in car carriers in 2X2 Logistics,” added Sushil Rathi, Senior VP, MLL.
“This JV has the potential to change the landscape of the Indian automotive logistics industry. Having been in this space for more than 30 years, I can say without doubt that this new entity will have all the capabilities to become a one stop solution for outbound logistics. We hope to leverage each other’s strengths and offer the highest level of quality and service to our customers,” said KS Singhal, founder and owner, IVC.
Aggressively expanding its business, it is known that MLL had acquired a majority stake in Lords Freight (India) soon after the private equity firm Kedaara Capital bought a significant minority stake for Rs 200 crore in the logistics company.