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FESCO and Mitsui to create a joint warehousing and distribution service provider

Apr. 29, 2010

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FESCO Transportation Group and Mitsui & Co., Ltd. announce signing of the agreement to form a strategic business alliance, envisaging the establishment of a joint company focused on providing a full range of warehousing and distribution services in the domain of imports and distribution of Japan manufactured products in Russia.

The newly created company will be based in Moscow and will start its operations as of May 1st 2010, engaging in the complete spectrum of warehousing and logistics services to support the supply chain of leading Japanese manufacturers across the Russian territory.

According to Sergey Kostyan, FESCO VP for Liner and Logistics, "this agreement marks an important milestone in FESCO development: we make yet another step towards our strategic objective to become a logistical solutions provider, capitalizing on our substantial expertise in container trade between Asia Pacific and Russia, including our trademark "land-bridge" intermodal services based on Trans-Siberian Railroad.

Our valuable partnership with Mitsui opens unprecedented opportunities for this new business in terms of access to the client base in Japan and reliable logistical support in the cargo origination area.

Mr. Masahiko Tsumoto, General Manager of Logistics Network Division from Mitsui adds that "joining forces with FESCO creates visible synergy opportunities for this business, enabling Mitsui to provide top-class comprehensive logistical solutions to Japanese clients interested in the Russian market. We believe that the new strategic alliance will be beneficial to both parties and will undoubtedly contribute to further development of foreign trade relations between our two countries".