Patel Integrated Logistics clarifies on news item regarding stake sale

With reference to the news item appearing in the leading daily, titled "Future Eyes Patel Integrated Stake", Patel Integrated Logistics Ltd has clarified the following:

"Patel Integrated Logistics Ltd is into the business of logistics providing services like transportation of goods, Warehousing, Co-loading of Couriers and Consolidation of Cargo, in both domestic and international marker. As a part of its expansion program the Company has embarked upon innovation initiatives with the launch of "Patel Retail" an Express Delivery Door to Door product catering to the Retail Industry. It is a high yielding small package business segment. Apart from the normal Trucking activity that the Company has been engaged in for many years the Company has now focused its attention on the local retail market. Patel Retails plans to build it's capabilities to cater to the emerging Retail commodity Industry where the Big Corporate Houses, both domestic and international like Reliance, Tata's, Aditya Birla Group, Future Group and WalMart have evinced interest. This backward integration will add value to the existing services and strength our logistics presence, in this Express Door Segment Business.

The Company being one of the well established logistics services provider for last 50 years in the Business of Logistics & now Retail Distribution, is on lookout for growing its business and is therefore in business talks with various & all Corporate Houses, all of whom are into retail commodity business to provide to provide logistics services to these Business Houses & to Service their Logistics requirement."

Source : Equity Bulls

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