Pune, Dec 5: Geologistics Corporation is planning to hike its stake in its Indian subsidiary, Geologistics Ltd. Andrew Britley, CEO of Geologistics Ltd, said at present the parent company held 80 per cent stake in the Indian company with a sleeping partner holding the remaining 20 per cent. Geologistics Corp will be buying out the sleeping partner to make it a 100 per cent subsidiary within two to three months , he said.The $1.6 billion logistics services and supply chain management company, Geologistics Corporation, set up its Indian unit, Geologistics Ltd, in April 1998 and is now a Rs 100 crore company.
The company is planning to set up a central multi-user facility of around 1 lakh sqft in the fourth quarter of next year, Mr Britley said. An investment of a $5 lakh will be made on this facility, he said. Geologistics is also expanding its warehouse facilities from the current eight to 20. All these warehouses will be leased.
Geologistics has just launched its end-to-end logistic services from Pune. It signed up with Cummins Auto Services Ltd, Pune, for providing total integrated logistics services for distribution of spare parts for commercial vehicles involving a web-based system. Geologistics has also for the first time launched global logistics services for the publishing industry. ``India is a major consumer of global IT, science and mathematics textbooks, trade magazines and we have helped companies improve their transit and service time and bring down costs by 15 per cent,'' Mr Britley said. Oxford University Press and IBD are among the companies that have signed up with Geologistics.''
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