27/11/2004

GEODIS strengthens its position in China

Geodis has opened its first subsidiary in the Chinese city of Shenzhen, close to Hong Kong, the logistics group announced during the presentation of its third quarter results. This wholly-owned subsidiary has been operating since September.

GEODIS already runs representative offices in Beijing, Guangzhou and Nanjing and is planning to start up a joint venture in Shanghai. According to GEODIS, the opening of the Shenzhen subsidiary is only the beginning of its expansion in China.

The company generated net sales up by 4.6% to €810.1 million between June and September 2004, thus bringing total net sales for the year to €2.4 billion (+4.9% on 2003).

(DVZ 27.11.2004)