HugSol Logistics’ partnership with DB Schenker was launched here on Thursday.
Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh delivered the feature remarks.
A release from the Ministry of Finance said that Singh highlighted the vast opportunities that lie ahead in Guyana, not only for Guyana and Guyanese companies, but also for the rest of the Caribbean and Caribbean companies, and indeed for investors from anywhere else.
Singh congratulated all the parties involved in the strategic partnership, and acknowledged that they have taken note of the Local Content Act that the PPP/C Government has put in place, and all of the opportunities that have been created specifically by that legislative intervention.
The launch came a day before it was announced that Denmark’s DSV DSV.CO has agreed to buy DB Schenker, the logistics arm of German state rail operator Deutsche Bahn, for 14.3 billion euros (US$15.85 billion) in a deal that would make it the world’s biggest logistics company.
Reuters reported that the acquisition will be the biggest by a Danish company and, according to DSV, propel it above DHL Logistics and Swiss group Kuehne und Nagel KNIN.S in both volume and revenue, but will still only give the group between 6% and 7% of a highly fragmented global logistics market.
German labour unions have warned against selling DB Schenker to DSV, fearing potential job losses.
