Gateway Distriparks undergoes changes in shareholding pattern

Container logistics firm Gateway Distriparks (GDL) has undergone significant changes in shareholding pattern and board composition following the exit of Singapore shareholders from Gateway group of companies and its board.
Container logistics company GDL operates port-side Container Freight Stations in Nhava Sheva, Chennai, Vishakhapatnam and Kochi.
While its arm, Gateway Rail Freight, the largest domestic private container rail transportation company, operates a fleet of 25 rakes and 265 trailers between Nhava Sheva, Mundra and Pipavav and its owned Inland Container Depots in Gurgaon, Faridabad, Ludhiana and Navi Mumbai.
"Prem Kishan Gupta, the sole promoter of the company, has taken over the position as Chairman of Snowman Logistics. Gupta is already the CMD of GDL and Gateway Rail....Their 100 per cent family holding company owns over 25 per cent of GDL shares," the company said in a statement today.

The company said to reach greater heights and market leadership position, Gupta has been steering both GDL and Gateway Rail from the front along with its strong management team.
"Now with Snowman under his leadership, the three companies can look forward to an environment that will promote higher efficiency and synergies at the group level," it said.
Commenting about the major changes in the shareholding pattern, Gateway Distriparks, CMD, Gupta said: "Gateway Distriparks has always rewarded its shareholders through a mix of regular dividends and growth. Going forward too, our endeavour will be to meet shareholders expectations on both the parameters - performance of the company and maintaining high standards of corporate governance."

Snowman Logistics provides temperature controlled storage and distribution solutions across India.