Company Watch

Another feather in the cap for SK Group

Sonal Shukla - Mumbai

Sevantilal and Kantilal Group (SK Group) inaugurated its new central warehousing depot for Bristol Myers Squibb (BMS) India. SK Group has been appointed by BMS India as their distributors for the company's pharma products in India. The recent move came with an inauguration of the central warehousing depot at SK Group's Bhiwandi premises.

Mark Trudeau President Bristol Myers Squibb

SK Group will now function as BMS India's central warehousing agent as well as a distributor for Maharashtra for all its current and future products. The initial investment put in this venture is around Rs 100 lakhs. At present, this partnership will look at distribution of two of BMS's products that are currently being imported and marketed in the country. They aim to increase the product list to seven in 2006. The deal between two companies came into existence in July 2004 after BMS's visit to S K Group's Bhiwandi premises, which houses their various warehousing depots. In addition to acting as an all India distributors, SK Group will also offer BMS (India) services of a stockist, APIs and formulation contact manufacturers.

"Our credibility in the market is built on the basis of right kind of qualitative services and integrity that we bestow upon our clients. Our goodwill is generated when company's like BMS approach our clients and get their recommendation for our services," said Bipin Shah, Managing Director of SK Group.

Current scenario in India is quite enthusiastic because increasing number of MNC's are willing to make investments in distribution and warehousing. It is a known fact that in case MNCs invest in their own unit for warehousing and undertake distribution activities themselves, costs would be very high. On the contrary, if they outsource this job to a companies like SK Group, which has years of experience and expertise in this area, they would stand to benefit, as they would still gain huge benefits from the same activity.