GeoPost, the express parcel arm of French Groupe La Poste, and its Indian partner, Continental AirExpress Pvt Ltd, today announced the setting up of a joint venture company, DPD Continental Pvt.
Ltd., to offer inbound and outbound express parcel services to and from India.GeoPost Intercontinental, the international expansion vehicle of GeoPost, will hold 60% ofthe shares in the joint venture, while the 40% balance will be held by the Vohra family.Continental Air Express is part of the Vohra family-owned Continental Carriers Group. The ForeignInvestment Promotions Board, Government of India, recently approved an application of GeoPostIntercontinental SAS and Continental Air Express Pvt. Ltd. to establish the joint venture.
Gautam Nath has been appointed to the position of CEO at DPD Continental Pvt. Ltd. The jointventure company will be headquartered in New Delhi, India. In the initial phase, DPD ContinentalPvt. Ltd. will offer its services in New Delhi and Mumbai. The second phase will see operationsbeing rolled out across several major cities in the country including Bangalore, Chennai andKolkatta by the end of 2009.
DPD Continental Pvt. Ltd. will offer value for money, reliable and efficient solutions forworldwide and domestic distribution to help customers optimize their supply chain, GeoPostIntercontinental said in a statement. DPD Continental Pvt. Ltd. will offer an efficientcollaborative solution with the intellectual, financial and organizational backing of both thejoint venture partners. DPD services will now be available for Indian customers between India andEurope as well as between India and other key locations worldwide.
Wolfgang Lehmacher, President and CEO of GeoPost Intercontinental SAS, said: “The foundationof DPD Continental Pvt. Ltd. is a significant step in the realization of our global strategy tostrengthen our position as the world’s domestic express parcel specialist. The joint venture is theresult of a successful cooperation with our partner Continental Air Express. It provides Europeancustomers with deep reach into India and Indian customers with deep reach into Europe and intoother important regions in the world.” GeoPost, the no. 2 on the European Express Parcel market,has built a flexible global network by combining owned infrastructure in selected locations andpartnerships with premium players in express parcel distribution.
Vipin Vohra, Chairman and Managing Director of Continental Carriers Group, said: “We areextremely pleased to extend our partnership with GeoPost in our associate company Continental AirExpress Pvt. Ltd with the setup of this joint venture. After successfully establishing a footprintin the areas of Air/Ocean freight, Consolidation, Project handling, Logistics and CustomsClearance, we look forward to offering world-class Express Parcel services to the Indian customersthrough DPD Continental Pvt. Ltd. and set a benchmark for quality standards in the Indian expressparcel market.”
Continental Air Express Pvt Ltd. has been in the forefront of the courier, express &parcel segment for many decades and was India’s largest wholeseller for linehaul services. In therecent past, it has also moved into the retail segment and offers many value added solutionsincluding next day delivery in London to its customers. Continental Air Express Pvt. Ltd. ismanaged by a team of highly qualified professionals with many years of experience in largemultinational air express companies and serves as a valuable partner in the Group’s total businesssolution portfolio. Continental Air Express Pvt. Ltd. is one of the oldest members of the ExpressIndustry Council of India, which is the Apex body for the CEP (Courier Express Parcel) trade inIndia and operates from the exclusive express terminals in key airports.
