Air Freight Limited (AFL), the logistics and express service provider, has hived off its cargo arm into a JV with Dachser, a leading logistics major. Dachser is a German logistics company with a turnover of €2.8 bn in 2005 and operates in the air, sea and food logistics segment. Both partners have a 50% stake each in the new entity christened as AFL Dachser. However, the actual size of the JV and investments put in by both players have not been disclosed as both are family-owned businesses.
Read The Economic Times article.
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