GLP Extends Cooperation with COFCO with 18,000 sqm Leased in South China
GLP has signed a new lease agreement of approximately 18,000 sqm (193,750 sq ft) with a division of COFCO, China’s largest food processing, manufacturing and trading company.
Singapore, 15 October 2012 - Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan,today announced that it has signed a new lease agreement of approximately 18,000 square metres (“sqm”) (193,750 square feet (“sq ft”)) with a division of COFCO, China’s largest food processing, manufacturing and trading company.
The lease, with Womai, COFCO’s online grocery division and one of the largest B2C e-commerce food websites in China, is at GLP Park Shunde in Guangdong province and marks the second cooperation between COFCO and GLP. The site will serve as Womai’s South China distribution centre. Womai currently has its East China regional distribution centre at GLP Park Dianshanhu, in Suzhou, where it occupies approximately 12,000 sqm (129,170 sq ft). Following the success of that project, COFCO again chose GLP for its South China distribution centre.
Mr. Ren Yingjun, the logistic director for Womai, said, “Knowing the strength of GLP’s network coverage and the quality, we turned to them first when setting up our distribution centre for South China.”
Kent Yang, Managing Director of GLP China, said: “We are pleased to further build on our strong relationship with COFCO. This agreement reflects the attractiveness of our modern and flexible facilities, and the strength of our nationwide network, to leading businesses as they expand in China. We look forward to working with Womai and COFCO as they continue to grow.”
GLP Park Shunde provides Womai with a strategic location in the Greater Guangzhou Area. It is located inShunde District, Foshan, within the Shunde Science and Technology Industrial Park and enjoys easy access to the major consumer market of downtown Guangzhou and to Guangzhou Nansha Economic and Technological Development Zone, one of China's most important manufacturing bases. Womai will occupy the newly-completed Phase II of GLP Park Shunde, which was built to accommodate strong demand given Phase I is fully leased.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan. It owns, manages and leases out 446 completed properties in 187 logistics parks spread across 36 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI).
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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