Gati signs strategic agreement with European courier firm

February 25th, 2008 - 5:21 pm ICT by admin  

Mumbai, Feb 25 (IANS) Indian courier firm Gati announced Monday that it has signed an agreement with European parcel service major General Logistics Systems (GLS) to form a strategic alliance. GLS, one of the three largest courier services in Europe, will act as a strategic partner for Gati in Europe, providing easy access for its customers and enabling it to capture a significant market share in Europe, said Gati in a filing with the Bombay Stock Exchange (BSE).

With the deal, the Amsterdam-based GLS is expected to find access to Indian markets, even to the remotest locations, as Gati, based in Secunderabad, covers 594 out of 604 districts in the country.

According to the statement, GLS has reported revenue of 1.6 billion euros ($2.4 billion) for 2006-07 fiscal and it handles around 311 million parcels for 222,000 customers in 36 European countries through 17,800 vehicles and 32 transshipment points, 655 depots and 12,000 employees.

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