Kerry Logistics buys 50% stake in Lanzhou Pacific
Kerry Logistics Network Limited has acquired of 50% of the shares in Lanzhou Pacific Logistics Limited (LPL).
The investment marks another strategic step in advancing Kerry Logistics' expansion into the rail freight and multimodal services under the 'Belt and Road' Initiative.
As the new shareholder and joint venture partner, Kerry Logistics will join hands with another shareholder of LPL, China Railway Container Transport Company Limited, in the management and operations of LPL, reported AJOT.
Group managing director of Kerry Logistics, William Ma, was quoted as saying: "This acquisition will enable us to draw on the vast opportunities created by the Belt and Road Initiative. Not only will it further strengthen our rail freight capability throughout China and Central Asia, but also allow us to consolidate our expertise in project logistics within our global network.
Ma added that "It will additionally strengthen the rail and road network we have established in The Commonwealth of Independent States through our new joint venture. By constructing an integral multimodal freight chain that connects China, Central Asia, and Europe, we are committed to providing new options and cost-competitive intermodal solutions to our international customers.”
Founded in 2002, LPL specialises in intermodal brokerage services across China and Central Asia including Uzbekistan, Kazakhstan, and Russia. Leveraging on CRCTC's extensive rail network in China, LPL has a nationwide rail freight network covering 100 cities and provides container freight stations and domestic door-to-door logistics services.
Tag Keyword: Kerry Logistics Network Limited , Lanzhou Pacific Logistics Limited , Rail Freight , China Railway Container Transport Company Limited , Logistics Service