AFL, Dachser team up for cargo services

MUMBAI: AIR Freight (AFL), the logistics and express service provider, has hived off its cargo arm into a JV with Dachser, a leading logistics major. Dachser is a German logistics company with a turnover of e2.8 billion in 2005 and operates in the air, sea and food logistics segment.

Both partners have a 50% stake each in the new entity, AFL Dachser. However, its actual size and investments put in by both players have not been disclosed because both are family-owned businesses. AFL CMD Cyrus Guzder said: ���The JV offers Indian customers a number of advantages in their export activities and connections with Dachser���s European overland network will benefit companies based abroad to look for greater access to Indian markets.���

The board members of AFL Dachser will be Mr Guzder, AFL director Farokh Guzder and Dachser MDs Bernhard Simon and Thomas Reuter. Detlev Janik, incumbent global head-cargo, AFL, has been appointed as the CEO.