DHL Sinotrans announces plans to invest USD200m in China
DHL has announced that its joint venture with Chinese logistics firm Sinotrans will invest a further US$200m in expanding business in China, as part of a five-year investment plan to take advantage of the country’s booming logistics sector.
“The wide-ranging expansion program will add significantly to DHL’s ongoing investments in China,” said Uwe Doerken, CEO of DHL Express, in a statement released prior to a news conference.
Doerken told reporters last week that DHL Sinotrans revenues for the full year 2003 are expected to grow 45% from year-ago figures.
Included in DHL Sinotrans’ new plans are the creation of 14 new branches, the purchase of 1,200 new vehicles and up to 2,100 new jobs.
DHL Sinotrans operates 42 branches and four distribution hubs in China. It owns 800 vehicles that service 318 cities.
DHL established its joint venture with Sinotrans in 1986. The international logistics firm, controlled by Deutsche Post AG, took a five pct stake in Sinotrans during its Hong Kong listing in February.
