Menzies to invest in two Indian airports

John Menzies said yesterday it could spend up to £35 million to fund an expansion in its aviation business into India and South Africa.
At its interim results presentation, the global logistics company announced it had won new licences for its aviation division in the "exciting new markets".
The finance director, Paul Dollman, said the company was expecting to make "pretty significant" investment at the two Indian and ten South African airports where it has been awarded contracts to move cargo and passenger luggage.
"In India we could be spending anywhere between £12m and £20m, in South Africa it could be ten to 15 [million pounds], it just depends on how many contacts we win, but we're pretty confident given our market position," he said.
"The other players there tend to be local players, we're the only one with global reach."
The investment will be used to build organically rather than acquiring other operators, with the benefits unlikely to be seen until 2008, Dollman said.
05/09/07 Scotsman, United Kingdom

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Categories: Airports Sep 2007, Foreign Sep 2007