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Sical Logistics to acquire majority stake in express logistics company

Sical Logistics has received an approval to initiate the process to acquire majority equity stake in a company in the express logistics business with annual revenue of Rs 40 crore and to execute necessary agreements to proceed further in this regard. The board of directors at its meeting held on May 12, 2017 has approved for the same.

The board also approved the proposal to initiate the process to acquire majority stake in a company in the warehousing and distribution business with annual revenue of Rs 20 crore and to execute necessary agreements to proceed further in this regard.

Sical Logistics is primarily engaged in providing integrated logistics services. The company’s divisions include Port Handling, Road Logistics, Retail Supply Chain Solutions, Customs House Agency, Ship Agency and Goodwill Travels Division, Shipping Division and Goodwill Travels Division.

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