August 12 - DB Schenker has acquired the outstanding 49 percent of the shares in its joint venture with Gemadept Logistics, Schenker Gemadept Logistics, making it the full owner of the Vietnamese company.
The integration process is to follow immediately, said DB Schenker.
Schenker Gemadept Logistics was formed in July 2007 to provide logistics and supply chain services through an agreement between Schenker Vietnam Co. Ltd. and Gemadept Logistics.
Juergen Braunbach, ceo of Schenker Vietnam, said that the acquisition is part of the company's commitment to growing its presence in such an energetic market.
Schenker Vietnam was established in 1991 and offers a full range of logistics and transportation services in the country, including contract logistics, supply chain management, air and ocean freight, national transportation and special services, such as removals.