Auto After-Sales Industry Spurring Demand for GLP's Modern Logistics Facilities

Auto After-Sales Industry Spurring Demand for GLP's Modern Logistics Facilities

GLP leases 66,000 sqm to global auto makers Fiat Chrysler and Daimler in Brazil and China.

  • GLP leases 66,000 sqm to global auto makers Fiat Chrysler and Daimler in Brazil and China
  • New customer relationships for GLP

  • GLP’s modern logistics facilities help drive higher operational efficiency and after-sales service for auto industry

    São Paulo / Shanghai, 26 September 2016 – GLP, the leading global provider of modern logistics facilities, has signed new leases totaling 66,000 square meters (“sqm”) (710,000 square feet (“sq ft”)) with two global auto makers in Brazil and China.

    Fiat Chrysler Automobiles has leased 43,000 sqm (463,000 sq ft) in São Paulo, Brazil and Daimler has leased 23,000 sqm (248,000 sq ft) in Greater Jinan, Eastern China. Both companies are new customer relationships for GLP and will use the facilities to distribute vehicle parts for after-sales service.

    Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: “These leases highlight the demand for efficient logistics solutions to ensure high quality after-sales service for car buyers. After-sales service is very important and drives demand for auto parts, even in an environment where new car sales growth has slowed. We look forward to supporting our customers as they continue to grow.”

    GLP works closely with global vehicle brands globally to provide them with high-quality, strategically located facilities in key markets for both vehicle and parts distribution. Key customer relationships globally include BMW, Chrysler, Ford, GM, Honda and Volkswagen. Auto related leasing accounts for approximately 7% of GLP’s total leased area globally.

    About GLP (www.glprop.com)

    GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 June 2016, GLP owns and operates a global portfolio of 52 million square meters (560 million square feet) that caters primarily to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. GLP’s US$37 billion fund management platform is a key area of growth going forward.

    GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

    GLP Investor Relations & Media Contact:

    Ambika Goel, CFA

    SVP- Capital Markets and Investor Relations

    Tel: +65 6643 6372

    Email: agoel@glprop.com
     

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