Third party logistics services provider Norbert Dentressangle has entered into a joint venture with dairy producer Danone Group to transport temperature-sensitive cargo in Russia.
The 50-50 joint venture company is anticipated to have an annual turnover of 60 million euros ($76.95 million), and will employ 300 people. In addition to dairy distribution, the company will offer a full range of logistics services within the country.
Russia is a new growth market for Norbert Dentressangle, and the new venture will give it a solid foundation in the country.
In the first quarter, Norbert Dentressangle saw its turnover decline 1 percent, year over year, from 958 million euros to 949 million euros. While turnover in the transport business dropped by 4.1 percent in the quarter, the logistics business grew by 3.4 percent. - Jon Ross