FM Logistic, a global leader in warehousing and transportation, in a bid to expand its footprint in India has announced a strategic investment of US$ 150 million over a period of five years to give a boost to its India business. The company has acquired 31 acres of land to build its first Multi-Client Logistics Facility (MCF) in the Northern region.
FM Logistic has also done shuffling in its India leadership and announced the appointment of Alexandre Amine Soufiani as its Managing Director of India operations. Alexandre Amine will take over from Gautam Dembla, one of the founders of Spear Logistics, which FM Logistic acquired in 2016.
On being asked about the company’s keenness to invest in India, Jean Christophe Machet, Global CEO, FM Logistic said, “India is one of the key strategic markets for FM Logistic. In 2016, we entered India through the acquisition of Pune-based Spear Logistics. We see a huge untapped potential in India. The company is planning to make strategic investments in India to support its long term growth. The GST reform provides a huge opportunity. Thanks to the new positive policies in India, our operations have become even more streamlined and efficient. We expect a very strong double-digit growth in India in FY 2019-20.”
Newly appointed Managing Director of India Operations – Alexandre Amine Soufiani, speaking about his new role said, “I am thankful to the board for giving me the opportunity to strengthen FM Logistic’s Indian operations. We will continue to provide agility, flexibility, proximity to our clients. Our team is committed to make FM Logistic India the leading player in the domain of warehousing, distribution and transportation.”
The company is strengthening its position in India by delivering on its post GST strategy of focusing on developing multi-client facilities (MCF) in the most important Indian Economic Zones.