Gati forms jt venture with Japanse co Kintetsu

Coimbatore: Distribution and supply chain solution company Gati Ltd has tied up with Kintetsu World Express (KWE) of Japan to form Gati-Kintetsu Express Pvt Ltd (Gati-KWE).

While Gati would hold 70 per cent stake in the joint venture, the Japanese partner would hold the rest.

Kintetsu World Express has invested Rs 267.7 crore for its 30 per cent stake, which has been approved by the Foreign Investment Promotion Board (FIPB).

Gati said the fund infusion would improve its balance sheet and help reduce the interest outgo.

It hopes that the joint venture would enable “seamless transfer’’ for cross border trade through single window solution to its clients such as Texas Instruments, HP, Panasonic and Toshiba.