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Haisan expands cold chain network in China with land purchase
Haisan Resources Bhd is expanding its cold chain network in China after its unit IGLO International Ltd acquired piece of a land in central Beijing, China from Beijing Golden Bridge Technical Industry Base Development Co Ltd for RM8.45 million to build a multiple temperature-controlled facility (MTCF).
In a statement on Jan 26, Haisan said the MTCF was targeted to start operations in the fourth quarter of 2007.
"The opening of Beijing MTCF by the end of 2007 will further strengthen our market leadership position as an integrated cold chain provider in China. This will be our third MTCF in China after Guangzhou and Shanghai," Haisan group president and chief executive officer Ong Chin Yet said.
"As income rises in China, followed by fast expanding foreign and domestic food chains, and with several upcoming events, including the 2008 Beijing Olympics and the 2010 Shanghai World Expo, cold chain supply logistics has caught increasing attention from market players," he added.
The Beijing MTCF will be built using Haisan's in-house engineering capabilities.
Štheedgeonline. 2007/01/27
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