Russian company controls Chinese logistics platform | Central regions, Transport, logistics

Central regions | Transport, logistics | Finance, business

Russian company controls Chinese logistics platform

14 May '19
MaksiPost, a Russian group of companies, earlier this spring took over Guangzhou Hanxuan International Freight Forwarding Co., a Chinese logistics platform that consolidates and delivers goods from China across the world.

The platform with a capacity of 45,000 square meters of warehousing space currently has as many as 400 active customers from among Chinese online stores. On a daily basis, an estimated 80,000 parcels are reportedly shipped to Russia and another 30,000 to other countries.

MaksiPost owns the controlling stake in the Chinese company. The dealís value has yet to be disclosed; but the Chinese operatorís $1.2m net profit in 2017 has led market experts to reckon that the holding firm might be worth a total of $300m.

The new acquisition is yet another step on the Russian companyís path to its main goal, which is establishing itself as a federal logistics operator in Russia and entering international markets. Eleven months ago MaksiPost became independent, leaving Posti Group, a Finnish group of companies, and has doubled delivery volumes to 18-20,000 a day in the domestic market since then.

The companyís 2019 plans include broader geographies and bigger delivery volumes in Russia and the opening of rep offices in Africa, a fast-growing e-commerce market.