The Hindu : Business : Austrian co picks up stake in Tricon

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Tuesday, Jan 20, 2009
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Austrian co picks up stake in Tricon

Special Correspondent

The Indian operation will now be called Weiss-Rohlig India.

CHENNAI: Rohlig & Co., a shipping, forwarding and airfreight operator from Germany, has divested 25 per cent stake in Tricon Shipping Pvt. Ltd., a freight forwarding company, to Gebruder Weiss of Austria, also a shipping and forwarding company.

With the new arrangement, the Indian operation will be called Weiss-Rohlig India.

It may be recalled, Rohlig, which has a working agreement with Tricon since 2000, had picked up 50 per cent stake last year.

Brand image

Addressing a press conference here on Monday, B. R. Rangamani, Managing Director of Tricon, said bringing in the two European partners would only improve Tricon’s international business as both the companies were leading players in the freight forwarding business.

On the removal of Tricon’s name in the new logo, Mr. Rangamani said it was a conscious decision taken by the broad as both the European partners added more value in the international business with their brand images. Last year, Tricon Shipping posted a turnover of Rs. 100 crore.

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