According to the announcement, Cosco Shipping Holdings is to purchase a 5.81% stake in Cofco Fulinmen, the flagship brand of Cofco in food and agricultural sector.
“We have maintained cooperative relationship with Cofco Fulinmen for a long time and shared the responsibility to stabilize food and agricultural products supply and safety, especially after the outbreak of Covid-19 pandemic,” said Cosco Shipping Holdings, this equity investment in Cofco Fulinmen will enable the two parties to explore more cooperation opportunities and push for the deeper integration between modern logistics and agricultural industries, and better secure the food chain and safety of supply chain.
In the aspect of food and agricultural industry chain and supply chain construction, both parties will unit container yard,warehouse and multi-model transportation resources, expanding end-to-end service cooperation.
In terms of port and terminal operation, Cosco Shipping and Cofco will strengthen cooperation on domestic terminal investment, operation, management and construction.
Additionally, the two parties will jointly promote integration of digital economy, food and logistics entity economy, accellerating high-end and intelligent development for food and logistics industries.