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EQS-News / 13/06/2017 / 15:46 UTC+8
*Kerry Logistics Expands Multimodal Freight Network Through Forming a Joint
Venture in CIS*
Hong Kong, 13 June 2017
Kerry Logistics Network Limited ('Kerry Logistics'; Stock Code 636.HK)
continues to enhance its services and network under the 'Belt and Road'
Initiative by entering into a joint venture through participating in the
equity of Globalink Logistics DWC LLC, a freight forwarding group
headquartered in Dubai with operations spanning across The Commonwealth of
Independent States ('CIS'). The move will significantly expand Kerry
Logistics' coverage in Central Asia and the CIS, opening the door to
potential markets with tremendous growth prospects.
The partnership will see nine countries added to Kerry Logistics' global
network. They include Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan,
Turkmenistan, Georgia, Armenia, Azerbaijan and Ukraine. Leveraging the
booming trade between China and Europe, Kazakhstan, in particular, is
expected to benefit most from the increasing transit cargo flow along the
trade lanes.
William Ma, Group Managing Director of Kerry Logistics, said, "We are very
excited about this joint venture, which is part of our development strategy
to tap into the immense opportunities from the Belt and Road Initiative. The
new partnership will allow the two groups to leverage each other's
competitive strengths and provide new options and cost-efficient multimodal
solutions to our customers with greater flexibility and access to the
strongest network in Asia."
"While we will continue to develop an overland transportation network for
road, rail and multimodal freight services from China to Central Asia and
Europe, we will also build upon our expertise in project logistics within
our global network to exploit new business opportunities," added William Ma.
The move came at the heels of Kerry Logistics' launch of its rail freight
operations between China and Europe. The Group was the market pioneer to
complete the first westbound charter freight from Yiwu, Eastern China to
Madrid, Spain in August 2016; while the first UK-China eastbound freight
train from London to Yiwu commenced its journey in April 2017.
-End-
*About Kerry Logistics Network Limited (Stock Code 636.HK)*
Kerry Logistics is an Asia-based, global 3PL with the strongest network in
Asia. Its core competency is providing highly customised solutions to
multinational corporations and international brands to enhance their supply
chain efficiency, reduce overall costs and improve response time to market.
It currently has more than 1,000 service points in 51 countries and
territories, and is managing 46 million sq ft of land and logistics
facilities worldwide, providing customers with high reliability and
flexibility to support their expansion and long-term growth. Kerry Logistics
Network Limited is listed on the Main Board of the Hong Kong Stock Exchange
and is a selected Member of the Hang Seng Corporate Sustainability Index
Series 2016-2017.
*About Globalink Logistics DWC LLC*
Established in 1994, Globalink is one of the leading international freight
forwarding, project logistics management and relocation companies delivering
cost-effective solutions throughout the CIS and the Middle East. Operating
in 10 countries and 18 cities in the region, Globalink is one of the most
comprehensive service providers and the preferred suppliers for various
Fortune 500 companies.
Document: http://n.eqs.com/c/fncls.ssp?u=XIRKSQFYCH [1]
Document title: KL Expands Multimodal Freight Network in CIS-E (13June2017)
Final
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(END) Dow Jones Newswires
June 13, 2017 03:47 ET (07:47 GMT)
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