J M Baxi's arm buys Allcargo's project forwarding & logistics biz for Rs.99-Cr

Mumbai-headquartered J M Baxi Heavy Pvt Ltd, a wholly-owned unit of J M Baxi Ports & Logistics Ltd, has acquired the 'Project Forwarding and Logistics' business of Allcargo Logistics Ltd for INR 98.64 crore. Separately, J M Baxi Heavy is to also acquire Lift & Shift India Pvt Ltd's heavy and over-dimension cargo logistics business. Allcargo's project forwarding and logistics business will add to J M Baxi Heavy's existing network with enhanced geographical presence in the Indian subcontinent and Africa, as well as diverse clientele in the Project Forwarding and Logistics sector. Lift & Shift brings with it, a specialisation in engineered logistics services for the niche category of super-heavy lifting, shifting and multimodal transportation.