Kerry Logistics has formed a joint venture in Indonesia as a platform for expansion.
The new JV sees Kerry Logistics join forces with Puninar Logistics, one of Indonesia's largest companies in the sector.
Kerry-Puninar Logistics will combine Kerry Logistics' global supply chain expertise and international freight forwarding network with Puninar Logistics’ local capabilities and connections.
George Yeo, chairman of Kerry Logistics, said: “The joint venture lays a strong foundation for cooperation between Kerry Logistics and Puninar Logistics, and marks a significant phase of our business development in Indonesia.
“As an archipelago, Indonesia has high demand for quality inter-island logistics services, which translates into immense growth opportunities.
“By enabling customers to optimise their supply chains with our integrated logistics services and highly customised solutions, we believe we are well-positioned to capture opportunities in the rapidly growing Indonesian logistics market.”
Eddy Korompis, president director of Puninar Logistics, said: “Both parties will be able to benefit from the complementary advantages and contribute to the further development of our existing businesses. We look forward to the immense business opportunities that will emerge.”
According to Frost & Sullivan, Indonesia’s logistics industry currently accounts for about 3.6% of its national economy. Indonesia’s transportation and logistics market was estimated to be worth IDR1,816 trn in 2014, with considerable growth potential.
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