GLP Leases 14,500 sqm To A Leading Global Food Company in China
Singapore, 30 January 2012 - Global Logistic Properties Limited (“GLP”), the market leader in modern logistics facilities in China and Japan, announced that it recently has leased 14,500 square metres at GLP Park Suzhou Industrial (Genway) to one of the largest global confectionery, food and beverage conglomerates.
The leasing agreement marks the first collaboration of the customer and GLP in China. GLP Park Suzhou Industrial (Genway) is strategically positioned near the customer’s production facilities in Suzhou Industrial Park (“SIP”) and also acts as its regional distribution centre given the centrally located location in the Yangtze River Delta region. This strategic location enables the customer to fulfill the growing needs generated by the domestic consumer market. This state of the art facility serves as a transfer centre among the customer’s factories in SIP and other regional distribution centres in Shanghai and Beijing. In addition, the customer has expressed interest in further expanding in GLP Park Suzhou Industrial (Genway) when construction of additional facilities is completed in mid 2012.
Kent Yang, Managing Director of GLP China said: "We continue to see increasing demand for modern logistics and industrial facilities from customers across China. GLP is committed to providing customers with integral value-added logistics solutions and helping them improve supply chain efficiency. GLP will continue to work closely with an increasing number of partners to grow together as their businesses grow across China."
Strategically located at the centre of SIP, GLP Park Suzhou Industrial (Genway) provides high-quality standard industrial space and Built-To-Suit factory space. It is jointly developed by GLP and Genway Group. GLP Park Suzhou Industrial (Genway) can be accessed within one hour from Shanghai by expressway linked with Shanghai’s transportation hubs and airport. The park provides manufacturing and logistics platform for over 70 MNCs, including Black & Decker, Samsung, Yamaha, Panasonic, Schneider and many others. As of 31 December 2011, the 702,954 square metre park was 92% leased.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 380 completed properties in 133 logistics parks spread across 28 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 Sale-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 18 October 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
