Kuehne + Nagel, a leading global logistics group based in Switzerland, and Temasek, a Singapore headquartered investment company, signed a Memorandum of Understanding to establish a joint venture to invest globally in early stage companies developing cutting-edge technology for logistics and supply chains.
The joint venture is targeting investments into early stage companies which are developing technologies and services with the potential to transform traditional business models in logistics, improve efficiency and provide an enhanced value proposition for the consumers. The cooperation will focus particularly on the areas of big data and predictive analytics, artificial intelligence, block chain and robotics.
Dr. Joerg Wolle, Chairman Kuehne + Nagel International AG: “This 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 is both another important step in the deployment of our digitalisation approach and to shape the future of our industry”.
Tan Chong Lee, President & Head, Europe and South East Asia, Temasek added, “The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek. We are pleased to partner Kuehne + Nagel in this joint venture, and believe the collaboration will allow us to further identify and support growing companies at the forefront of technological development in the logistics industry.”
With over 74,000 employees at more than 1,300 locations in over 100 countries, the Kuehne + Nagel Group is one of the world’s leading logistics companies. Its strong market position lies in the seafreight, airfreight, contract logistics and overland businesses, with a clear focus on providing IT-based integrated logistics solutions.
(Press release)
Picture: left to right: Uwe Krueger, Head Business Services Temasek; Dr. Joerg Wolle, Chairman Kuehne + Nagel International AG; Tan Chong Lee, President & Head Europe and South East Asia Temasek; Juliet Teo, Head Transportation & Logistics Temasek; Dr. Detlef Trefzger, CEO Kuehne + Nagel International AG
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