Singapore state investor Temasek Holdings and Kuehne Nagel International AG, a global logistics group, are planning to establish a 50:50 joint venture (JV) entity that will have the mandate to invest in early-stage logistics technology companies.
Kuehne + Nagel International AG is based in Schindellegi, Switzerland and operates in the global transport and logistics space. It provides sea freight and airfreight forwarding, contract logistics, and overland businesses with a focus on providing IT-based logistics solutions.
Dr Joerg Wolle, chairman of Kuehne Nagel International AG said, “The joint venture will be able to accelerate the transformation of the logistics industry. The cooperation combines Temasek’s focused and long-term oriented investment strategy and expertise with Kuehne Nagel’s global logistics network and know-how, creating a win-win situation for all parties.”
“For Kuehne Nagel, it’s another important step in the deployment of our digitalisation approach and to shape the future of our industry,” he adds.
The JV will focus on target firms that develop technologies and services with the potential to transform traditional business models in logistics, improve efficiency and provide an enhanced value proposition for the consumers.
This will see the JV focus on big data and predictive analytics, artificial intelligence, blockchain technologies and robotics and leverage on the growing demand for transparency in supply chains growing among customers.
The launch of the JV comes at a time when governments and the private sector worldwide – and particularly in ASEAN – are increasing their investments in transport and logistics infrastructure.
Tan Chong Lee, president & head, Europe and South East Asia of Temasek, said. “The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek. We believe the collaboration will allow us to further identify and support growing companies at the forefront of technological development in the logistics industry.”