SBS Group, one of Japan’s top corporate groups, has acquired Atlas Logistics, a leading Bangalore based provider of integrated and comprehensive global transportation solutions.

The acquisition of the company will give SBS Holdings a significant presence in the rapidly growing domestic logistics market in India and reinforce its position as a full service international logistics group.

The acquisition of Atlas Logistics is part of its long term strategy to make inroads into the Asian market and become a leading international third-party logistics business group.

Mr Akihiko Okamoto of the SBS Group said that "The acquisition of Atlas Logistics, with its strong delivery network and excellent service reputation, will expand our footprint, add depth and efficiency to our own network, and offer convenience for our customers who are expanding globally.”

He added that the Indian company, which has 26 domestic offices and presence in 14 countries, would serve as a powerful local partner and that his group would now be in a position to contribute to the competitiveness of its customers in the field of international logistics.

Mr Okamoto said his group could leverage on opportunities opening up for increased business between Japan and India following the Japan-India Economic Partnership Agreement, and this acquisition would be a perfect addition to the group which has 27 consolidated subsidiaries and one affiliated company.

Mr HR Venkatesh Rao CMD of Atlas Logistics, observed that with this acquisition substantial synergy would be created for both the companies at various levels, including improved operational efficiency, resulting in faster growth of the combined entity. He added that "We will strengthen our shipping services globally.”

(Sourced from Exim News Service)