BANGKOK -- Thai consumer goods conglomerate Saha Group and Japan's Seino Holdings will form a joint distribution business with an eye toward regional expansion, Saha announced Friday.
Seino-Saha Logistics will be set up in September. Saha will contribute 39% of the 20 million baht ($590,000) in capital, while logistics company Seino will supply 51%. The joint venture will use Saha's domestic warehouses to build a distribution network in Thailand, initially handling food and household products made by Saha.
Plans are to have the venture form partnerships with other businesses and tap into the growing demand for logistics services in the Association of Southeast Asian Nations. Seino-Saha will aim to take in 5 billion baht in five years.