US-based BDP International (BDP) today announced a joint venture with India's Unique Global Logistics called BDP Global Logistics (India) in which BDP will hold a 65 per cent stake and Unique Global Logistics, 35 per cent.
The investment in this joint venture will be Rs 25 crore. "The investment in this joint venture will be Rs 25 crore and we are aiming for a 25 per cent growth a year over the next five-years," BDP's President and CEO, Richard Bolte, said here.
BDP is one of the world's largest privately-owned transport and logistics companies, with revenues in excess of $1.6-billion and works with some of the world’s largest corporations such as DOW, DuPont, Johnson & Johnson, Marks and Spencer and Revlon.
BDP Global Logistics (India) will be headquartered in Mumbai and has plans to expand its footprint in the country. "We have plans to expand into Chennai, Kolkata and Bangalore," Bolte said, adding the company would adopt the organic growth strategy for the Indian market.
Describing India as a key focus area for BDP over the next decade, Bolte said that the company's target segments here would be chemicals, life-sciences, healthcare, retail, telecom and manufacturing industries.
"As more of the world's largest manufacturers and retailers establish their operations in India, BDP sees an opportunity to contribute to the growing need for specialised logistics services," Bolte said.
BDP has tremendous expertise in the chemical sector and expects to benefit from the sector's growth over the next 10-years, Bolte said.
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Unique Global Logistics (UGL), which clocked a turnover of Rs 26-crore in FY 09, "understands the needs of local Indian companies, while BDP offers global reach and experience," Managing Director, Pavithran M Kallada, said.
The company has a strong expertise in the energy sector, including oil and gas besides engineering and chemicals, he said.
"By joining under BDP's banner, we expect to successfully target the growing number of Indian companies doing business overseas as well as multinationals coming to India to do business," Kallada said.