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SCHINDELLEGI, Switzerland: August 24, 2018. Kuehne + Nagel says it is to become the majority shareholder in a new joint venture with Sincero, a Chinese automotive logistics group, to focus on contract logistics. Terms of the deal were not disclosed.

KN Contract Logistics“Contract logistics for the automotive industry is a strategic focus area for Kuehne + Nagel globally and especially in China, the biggest automotive market,” said Gianfranco Sgro, member of the Managing Board of Kuehne + Nagel International and responsible for Contract Logistics: “Following the recent launch of our digital platform for e-fulfilment centres in China this investment further strengthens our presence in Asia.“

Kuehne + Nagel says it has been developing a strong automotive footprint in the country by organically expanding the Sincero relationship with premium European brands.

“Establishing the joint venture with Kuehne + Nagel is a strategic move to comply with the irreversible globalisation trend of economics and competitive landscape of the automobile logistics industry, explained Sincero chairman Jiang Jun.

Sincero, established in 2006 and headquartered in Shanghai, operates nine logistics centers in Shanghai, Wuhan, Guangzhou, Xi'an, Chengdu, Tianjin, Wenling, Hangzhou and Huzhou – its latest facility covering 60,000 sq.mt. to handle spare parts logistics.

Customers include Dongfeng-Honda, Dongfeng Peugeot-Citroen Automobile, Dongfeng Motor Corporation Passenger Vehicle Company, Dongfeng Honda Engine Company, Volvo Commercial Vehicle, Valeo, Faurecia, Fleetguard, and Dongfeng Die & Stamping Technologies.

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