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CIMC partners GLP China to develop logistics property business

CIMC partners GLP China to develop logistics property business
China International Marine Containers (Group) Co (CIMC) has penned a strategic cooperation framework agreement with Global Logistics Properties Investment Management (China) Co (GLP China) to jointly develop logistics property business.

Hong Kong-listed CIMC said both parties intend to tap on the group’s competitive strength in land reserve, logistics equipment manufacturing and logistic and transport services, as well as GLP China’s experience in modern logistic properties and services.

GLP China’s controlling shareholder is Singapore-listed Global Logistics Properties Limited (GLP), Asia’s biggest developer and service supplier of high-end logistics facilities.

CIMC explained that having an indepth strategic cooperation with GLP China would enable the group to optimise its assets structure and create new areas of business and profits.

“Meanwhile, it will do good for the sustainable development of the existing business and results improvements of the group by bringing the group’s capacity for manufacturing logistics equipment and providing relevant services through the entire industrial chain in line with the needs of the logistics parks of GLP China,” CIMC said.