Logistics services provider Apollo LogiSolutions has said it has divested Kashipur Infrastructure and Freight Terminal (KIFTPL) to Gateway Distriparks.
In a statement, Apollo LogiSolutions said the move was aimed to add strength and boost market share in contract logistics, adding that Kashipur Infrastructure and Freight Terminal (KIFTPL) was a non-core, standalone asset which did not form part of the company's "future strategic roadmap".
The long-term business strategy is to focus on assets and capabilities that will enable the firm to unlock the next wave of business growth, said Raaja Kanwar, Chairman and Managing Director of Apollo LogiSolutions, in the statement.
"We are bullish about the opportunities available in this industry. The National Logistics Policy is truly transformational and a game-changer for players like Apollo LogiSolutions. We are also witnessing an interesting shift in how businesses perceive supply chain," Kanwar added.
"It is no longer a business function but a differentiator. Brands want to invest deep in building their supply chain agile and future-ready that help them with speed-to-market. As we look towards the future with prospects, we are certain that our strategic plans and policies will continue to yield impressive results for all our stakeholders," Kanwar further said, in the statement.
Established in 2009, Apollo LogiSolutions currently manages 2.1 million square feet of warehousing, with a presence across transport and logistics services.
With this divestment, the company takes another bold step towards streamlining its business in a bid to better serve its customers, drive innovation, and evolve further in a highly competitive industry, while keeping a large share of the market.
( With inputs from ANI )
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