- 13 March 2019
- Transport / Logistics Services
Deutsche Post DHL and SF Holding, the owner of China’s largest courier company, have launched a co-branded, 10 year joint venture called Shunfeng DHL Supply Chain China.
The deal comes as part of the two logistics giants’ deal in February where they concluded a strategic deal across China, Hong Kong and Macau. Deutsche Post DHL received a €700 million payment and will continue to receive revenues from it for the next decade.
Shunfeng DHL is to be headquartered in Shanghai and is to be led by Zou Yin who is the former CEO of DHL’s Greater China supply chain business. He is tasked with combining the domestic logistics network with DHL’s technology and 30 years of operating experience in China.
“This is a milestone in the development of SF Express from an express delivery company to a supply chain company,” according to SF Holding chairman Wang Wei.
At its start, Shunfeng DHL will reportedly provide logistics services in the fields of high technology, medical, retail, consumer goods, automotive, chemicals, and e-commerce.