Apollo LogiSolutions and Spire Group enter into JV

    TORONTO, March 5 /CNW/ - Apollo LogiSolutions Limited, a subsidiary of
Apollo International Limited, and Spire Group Limited of Toronto, Canada,
executed a joint venture agreement yesterday in Mumbai for US $250 million to
construct and operate temperature-controlled warehouses in India. The joint
venture will operate under the name "Apollo Everest Kool Solutions".
    Mr. Patrick A. Gouveia, owner of Spire Group Limited (www.groupspire.com)
of Toronto, Canada, operated the second largest public refrigerated company in
North America with 54 facilities (240 million cubic feet) and 5,400 employees,
has concluded a US$250 million joint venture with Apollo LogiSolutions Limited
as part of the global expansion of Spire Group into developing markets. Spire
Group has facilities of US$ 450 million under contract in Romania, Moldova,
Bulgaria, Ukraine, Russia and Montreal, Canada. There is an unprecedented
demand for modern temperature-controlled warehouse facilities to comply with
international health and safety standards in these markets and to meet the
burgeoning market created by consumer demands. The joint venture will
construct up to 15 temperature-controlled warehouses throughout India starting
in 2008. The first two temperature-controlled facilities will be built in
Mulund and Panvel. Spire Group will work with Apollo LogiSolutions in the
design and construction of these facilities.
    Commenting on the joint venture Mr. Raaja Kanwar, Managing Director,
Apollo LogiSolutions Limited said "It is a joint venture of equal significance
to both the groups. From Apollo we will bring to the table over three decades
of business experience and professionalism. We are delighted to have the Spire
Group as our partners and look forward to a mutually rewarding relationship
with them in the fast growing logistics business in India".
    Spire Group, with its team of experts, has many years of experience in
the construction and management of temperature-controlled warehouse facilities
and can strategically develop distribution facilities tailored to the
customers' specific supply chain needs. Spire provides third party solutions.
Mr. Patrick. A. Gouveia, Spire Group President, says "we are delighted to
enter into this joint venture with a truly world class partner and we look
forward to an exciting future together".
    Says Capt. Kapil Anand, President, Apollo LogiSolutions "As India's
integration into the global economy strengthens, the container traffic is
projected to increase about threefold in the next ten years. The requirement
for state-of-the-art logistics hubs with integrated cold chain facilities is
the need of the hour. Apollo LogiSolutions is committed to provide solutions
that would give its customers a competitive edge resulting from cost
efficiencies and better service levels. We are very enthused about the joint
venture as a well established partner will help us expand our services to
cover the cold chain logistics".
    Apollo LogiSolutions is Apollo International Limited's latest foray into
the field of logistics. Apollo LogiSolutions intends to offer complete and
comprehensive services in container and freight station space in the near
future including the areas of transportation of containers to and from the
port, cargo handling and consolidation, facilitating customs clearance,
palletization/unitizing, labeling, bar coding and sorting of cargo, storage &
warehousing including special warehousing of temperature/climate controlled,
hazardous cargo, specially customized services like distribution & inventory
management to meet the growing trade requirements.
    Currently Apollo LogiSolutions is managing an inland container depot at
Mulund. It is in the process of setting up a logistics hub in Panvel, at a
distance of 32 kilometers from Jawaharlal Nehru Port Trust, India's premier
container port in Nhava-Sheva, near Mumbai. This facility strategically
located along the National Highway network, spanning over 60 acres of land
will be equipped with state-of-the-art equipment, information technology and
experienced staff to cater to all the needs of export/import trade under one

For further information:

For further information: Capt. Kapil Anand, 0091 22 32917618,
captanand@apolloindia.com in India and Mr. Patrick A. Gouveia, (416) 250-0090,
pgouveia@groupspire.com in Europe and North America

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