Latest news with #AndreasSchmitz

Business Standard

Schmitz Cargobull acquires 27.5% stake in India's SZIT for cold chain

As part of its global expansion plan, European semi-trailer maker Schmitz Cargobull AG will acquire a 27.5 per cent equity stake in Sub Zero Insulation Technologies (SZIT), one of India's leading producers of refrigerated and dry freight truck bodies, for an undisclosed sum. Under the agreement, Schmitz will have the option to increase its shareholding in the coming years. The investment will strengthen Schmitz Cargobull's presence in the rapidly expanding Indian cold chain logistics market and support its broader strategy to grow in emerging markets. 'India's cold chain sector is evolving rapidly, and Sub Zero has demonstrated strong potential to lead this transformation. By combining Schmitz Cargobull's engineering expertise with Sub Zero's market reach, we aim to deliver high-quality, efficient transport solutions across India and beyond. This is not just about business growth; it is about enabling infrastructure that can help reduce the 30–40 per cent of perishable produce lost annually due to inadequate cold chain facilities—losses that also contribute significantly to greenhouse gas emissions,' said Andreas Schmitz, Chief Executive Officer, Schmitz Cargobull AG. Sub Zero is a leading Indian manufacturer of insulated and refrigerated truck bodies, producing over 1,500 units annually. It serves as an approved supplier for major original equipment manufacturers, including Tata Motors, Mahindra, Ashok Leyland, Volvo Eicher, Isuzu, and Bharat Benz. 'With Schmitz Cargobull as our partners, we are entering a new era of quality, technology, and international standards. By improving cold chain efficiency, we can drastically cut wastage, boost farmer incomes, improve food availability, and significantly lower the carbon footprint from decomposing perishables. We remain committed to our customers and our mission to deliver best-in-class transport solutions across India and emerging markets,' said Deep Khira, Founder and Chief Executive Officer of Sub Zero. The Khira family has been in the vehicle body building business since 1949, and Sub Zero has been operational since 2015.