Samsung SDS, Acutech form logistics JV
SEOUL - Samsung SDS, the IT solutions and logistics unit of Samsung Group, said on Monday that it has agreed with Thailand’s Acutech to set up a joint venture to expand its presence in the soaring Southeast Asian logistics market.
Acutech, established in 1987, is Thailand’s largest logistics company whose key clients include electronics, automobile parts and food makers.
Taking advantage of Acutech’s client base in the region, Samsung SDS plans to offer its comprehensive logistics solution, called Cello, to allow corporate clients to operate and manage their logistics business and networks.
Thailand is an attractive market for logistics companies as it serves as a transportation hub in Southeast Asia and its top export products include auto and electronics parts.
Among other things, Samsung SDS pointed out that collaborating with a local partner is crucial in the country where foreign companies cannot own more than 50 per cent in retail, construction and logistics companies.
“Samsung SDS handles the largest amount of materials in Thailand among Southeast Asian countries it operates in.
“Through the planned joint venture with Acutech, we hope for large business synergies,” a Samsung SDS official said.
The company said it is also discussing partnerships with other companies such as those in Vietnam and China to further accelerate its growth in the logistics market.
