Indian auto component major Samvardhana Motherson (SAMIL) today announced a new joint venture with Japan-based Hamakyorex, a 3PL solutions provider. The partners are targeting land transportation of finished vehicles within India.
Hamakyorex says it will expand its business in the Indian market as the country is experiencing significant growth. The Japanese company intends to further expand and grow the business of the Hamakyorex Group by establishing a local joint venture company with SAMIL, that will target the land transportation of finished vehicles within India. Through this JV, the company says it will not only expand its 3PL businesses in Japan but will also increase the size of the company's logistics business within India.
The JV christened Samvardhana Motherson Hamakyorex Engineered Logistics with operations planned to start in June 2019. The company will be headquartered in NCR, and Arjun Kochhar is set to lead the company as the COO. The 50:50 partnership will see an investment of around Rs 92 crore.
Vivek Chaand Sehgal, chairman, Samvardhana Motherson Group said, “We are happy to welcome our 27th collaboration partner into the Motherson family. We are confident that the synergies are in place and that together, we can offer our customers greater solutions.”
Osuka, chairman, Hamakyorex said, “I believe India is the country which will lead the global economy from now on. This JV would do the best in India which has so much potential, bringing synergetic effects as well as contributing distribution efficiency to customers.”