CJ Logistics to tap deeper into India through new affiliate
SEOUL-- South Korea's logistics firm CJ Logistics Corp. said Sunday it plans to tap deeper into the Indian market through CJ Darcl acquired earlier this year.
The logistics unit of South Korean food and entertainment conglomerate CJ Group signed a deal to buy a 50 percent stake in Indian firm Darcl Logistics for 57.1 billion won (US$52.5 million) in April.
CJ Darcl said it plans to double its annual sales to 700 billion won by 2021 and rise as India's top logistics firm by utilizing CJ Logistics' global network, which covers 31 countries.
Established in 1986, CJ Darcl is a logistics firm that compromises land, rail and water transportations.
It is currently India's No. 3 logistics firms, with its sales estimated at 320 billion won for last year.
Source: Yonhap News Agency