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Mitsui and FESCO tie up

Mitsui and FESCO tie up

Tokyo: FESCO Transportation Group and Mitsui & Co., Ltd. have announced the signing of an agreement to form a strategic business alliance, establishing a joint company that would provide a wide range of warehousing and distribution services in the domain of imports and distribution of Japan manufactured products in Russia, a FESCO press release said.
The Moscow-based new company will provide warehousing and logistics services to facilitate the supply chain of leading Japanese manufacturers across the Russian territory.
"This agreement marks an important milestone in FESCO development: we make yet another step towards our strategic objective to become a logistical solutions provider, capitalizing on our substantial expertise in container trade between Asia Pacific and Russia, including our trademark "land-bridge" intermodal services based on Trans-Siberian Railroad. Our valuable partnership with Mitsui opens unprecedented opportunities for this new business in terms of access to the client base in Japan and reliable logistical support in the cargo origination area," Sergey Kostyan, FESCO VP for Liner and Logistics was quoted as saying.
Mr. Masahiko Tsumoto, General Manager of Logistics Network Division from Mitsui said, that "joining forces with FESCO creates visible synergy opportunities for this business, enabling Mitsui to provide top-class comprehensive logistical solutions to Japanese clients interested in the Russian market. We believe that the new strategic alliance will be beneficial to both parties and will undoubtedly contribute to further development of foreign trade relations between our two countries". [03/05/10]

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