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The Beijing International Technology Cooperation Center and Schenker International Ltd. of Germany prepare to establish a Sino-German logistics company.
German logistics giant Schenker International Ltd., a multinational company with a history of 150 years and boasts annual sales worth 6.4 billion euros, has more than 1,100 subsidiaries worldwide.
The joint venture, with registered capital of US$5.7 million, is expected to be officially operating in 2003. Schenker will hold 70 percent of its total shares in the new joint venture.
(china.org.cn November 21, 2002)
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