Emery Airfreight Expects To Record Rs 40cr Turnover
Emery Airfreight Corporation _ the domestic subsidiary of $2.5 billion Emery Worldwide of the US _ expects to notch a turnover of Rs 40 crore in 1998-99, according to Palam Srikanth, managing director, India operations.
The company, which set up shop in India in 1997, is already clocking an average turnover of Rs 3.5 crore a month, Srikanth added. The turnover in 1997 was Rs 25 crore.
Emery Worldwide, global leader in bulk freight and logistics, is a subsidiary of $5 billion CNF Inc, which is a Fortune 500 company.
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The Indian company _ in which Emery Worldwide holds 80 per cent equity with the rest held by Indian partners _ has witnessed a 100 per cent growth in revenue, tonnage and shipment, after it came in as an independent entity into India, while the ocean freight revenue has jumped 200 per cent.
Global majors like General Motors and Hewlett Packard have signed up with the company for total logistics support including warehousing and total distribution, Srikanth pointed out.
Other clients include Hughes, Atlas Copco, Nike, Ingersoll-Rand, the TVS group, the Sanmar group and Blue Star.
The company is currently signing up with leading telecom majors in the private sector for the total transport and logistics support.
Emery Worldwide has 600 offices globally and has opened branches in Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Calcutta and Coimbatore.
In the second phase of expansion, poised for take-off, the number of Indian offices will go up to 20.
According to Srikanth, the company will focus on servicing industries like telecom, automobiles, leather and electronics. In the near future, it will add more facilities to strengthen its total logistic support for the Indian market.
The total Indian bulk freight transport and logistics market is currently estimated at Rs 2,000 crore. This is expected to grow 10-15 per cent per annum in the coming years.