Company
14:09, 19-Feb-2019
SF Holding concludes $790 mln deal with Deutsche Post DHL Group
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Chinese express delivery company SF Holding and Deutsche Post DHL Group (DPDHL Group) have concluded the 5.5 billion yuan (790 million U.S. dollars) deal with a 10-year strategic partnership designed to launch supply chain operations in China under a co-branded business called – SF DHL Supply Chain China, SF Holding said Monday.
DPDHL Group will transfer its supply chain operations in Chinese mainland, Hong Kong and Macao to SF Holding but not its business activities in international express, freight transport and e-commerce logistics solutions in China.
The co-branded business, with Yin Zou, former CEO of Greater China of DHL Supply Chain as its CEO, will be provided supports including trademark license, customer referral, employee training by DPDHL Group, which can receive revenue-based partnership fees for ten years besides the 790 million U.S. dollar payment.
"SF's local market expertise combined with DPDHL Group's global operations standards and network support provide a solid foundation for us to continue exploring further opportunities in China in the coming years," said Frank Appel, CEO of Deutsche Post DHL Group.
"SF DHL Supply Chain China is well-placed to serve the increasing demands for world-class supply chain services," he added.
"We are expanding our domestic footprint through SF DHL Supply Chain China to cater to our customers across a multitude of industries. This deal with DPDHL Group, a world-class organization, helps us to better serve multi-national clients," said Dick Wong, the head of the Shenzhen-based express logistics firm.