Crown Worldwide Group invests $50 million in India real estate
Building on 25 years of operations in the country, Crown Worldwide plans to invest $8 to $10 million USD per year for five years in the country to build out its logistics network. As companies move to India to take advantage of the massive workforce and low cost of labor, Crown Worldwide hopes to support their transitions. The company is also looking into wine storage, a notable challenge given the country's arid, hot climate. Crown Worldwide estimates that this investment can bring in an annualized growth rate of 20% in the country.
New Activity|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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