Other than expanding in the cities it is already present in, FM Logistic will also enter Hyderabad.
Recently, FM Logistic, a French third-party logistics (3PL) company, has opened its first owned multi-client facility Farrukhnagar, Haryana. It is the part of $150 million investment plan which was already announced in March 2019. The warehouse is of 7.6 lakh sq. ft and located on a 31-acre site, which will help in providing faster access to major consumption centres in north India.
The warehouse is of 7.6 lakh sq. ft and located on a 31-acre site, which will help in providing faster access to major consumption centres in north India.
On this Jean-Christophe Machet the chief executive of FM has said that, “FM Logistic in India is ready to cater to the rising demand for omni-channel commerce which is driving the demand for outsourced logistics services. With this new state-of-the-art facility in Farrukhnagar, we aim to help our customers efficiently answer their growing business needs and help them build and maintain sustainable omni-channel supply chains”. In 2016, FM Logistic made its entry into the Indian market after buying a majority stake in Spear Logistics. The company has four multi-customer facilities – two in Mumbai, and one, one multi-customer facilities in Bengaluru and Gurugram.
The company has four multi-customer facilities – two in Mumbai, and one, one multi-customer facilities in Bengaluru and Gurugram.
Later on, the managing director of FM Logistic India Alexandre-Amine Soufiani said in an interview, “We have invested about $60 million so far since 2019, and will deploy another $90 million in land, construction, IT, automation, among others. We are expecting 40-50% revenue growth in 2022-23 and looking at setting up new facilities, either on long-term lease or buy land and develop it”. Soufiani also added that, “FM Logistic aims to strengthen its leading position in India, thanks to a good combination of multi-client and dedicated sites responding to customer needs, the management of a global supply chain (warehousing, distribution, value-added services) according to an omni-channel model (B2B and B2C), innovation, sustainable development and social responsibility”.
We are expecting 40-50% revenue growth in 2022-23 and looking at setting up new facilities, either on long-term lease or buy land and develop it
