Damco has been appointed by Michelin as the tyre manufacturer's logistics services and customs clearance provider in Vietnam
The three-year contract will see Damco handling Michelin's exports from Thailand into Vietnam, inland transportation, cross-docking and distribution to customers in Vietnam
Damco will also manage warehouse operations for Michelin in Hanoi and Ho Chi Minh City
The new logistics set up will enable Michelin to distribute directly to almost 100 dealers across the country
Fred Green, President and Chief Executive Officer, departing after 34 years of service.
The Group delivered a profit of USD 1.2bn (USD 1.2bn) and a return on invested capital (ROIC) of 10.0% (11.7%) for Q1.
UPS today announced it has the necessary financing in place for its intended recommended public offer for TNT Express N.V.