Schenker moving ahead in Vietnam

Schenker recently marked a major milestone in Vietnam with the ground-breaking ceremony for a 15,000 square meter logistics hub. The ceremony was held at the Song Than Industrial Zone of Binh Duong Province, close to Ho Chi Minh City.

The new facility, which is expected to be completed by April 2008, will significantly strengthen the capability and capacity of Schenker in Vietnam. For this new logistics hub, Schenker has formed a logistics joint-venture with Vietnam's largest shipping agency, Gemadept. Both companies have successfully worked together in the logistics sector since 1993.

The joint-venture is operating under the name of Schenker Gemadept Logistics Vietnam Ltd. It will concentrate on warehousing and related contract logistics. Other services may be integrated as well.

The logistics hub will serve both export companies with its CFS (Container Freight Station) as well as those international companies from the growing hi-tech industry around the southern hub of Ho Chi Minh City.

"Our new joint-venture shall extend additional services to our existing customers and support our further growth as one of Vietnam's leading logistic providers. Together with Gemadept, we are in a strong position with Schenker's international network and Gemadept's proven track record in Vietnam to offer best services in newly-built facilities to our global customers"said Dr. Thomas C. Lieb, a board member at Schenker AG for global air and ocean freight operations.

The logistics center will add to the three existing Schenker offices with over 120 staff. Schenker has been operating in Vietnam since 1991. Since October, Schenker is now also present in the national market with a fully-owned subsidiary, Schenker Vietnam Ltd, offering global air and ocean freight services.