The collaboration aims to improve resilience, efficiency and stability in supply chains through integrated logistics services.
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Samvardhana Motherson International Limited (SAMIL) has approved a joint venture with German logistics firm Hellmann Worldwide Logistics (MESA) Holding Limited to provide supply chain solutions to the automotive sector, the company said on Thursday.
The partnership will operate through a new entity to be incorporated in Dubai, aimed at delivering integrated third-party (3PL) and fourth-party (4PL) logistics services globally, excluding Japan.
Under the agreement, SAMIL will hold a 51 per cent stake in the joint venture, while Hellmann will own the remaining 49 per cent. The board will comprise six directors, with both partners nominating three members each.
The joint venture company will be set up with an authorised share capital of $10 million and an initial paid-up capital of $1 million, with both parties subscribing in proportion to their shareholding.
SAMIL said the partnership will allow its logistics solutions division to expand its offering to automotive clients by addressing end-to-end supply chain requirements.
According to a regulatory filing, the collaboration aims to improve resilience, efficiency and stability in supply chains through integrated logistics services.
