Former ProLogis Asia Operations Announces Enhanced Corporate Branding Reinforcing Commitment in China and Japan Logistics Market
Former ProLogis Asian operations have been rebranded as "Global Logistic Properties."
Shanghai, March 3, 2009 - Former ProLogis Asian operations have been rebranded as "Global Logistic Properties." This is a key step for the industrial and logistics infrastructure provider to continue its leading market presence in China and Japan following the acquisition of the China business and a 100% stake in the largest logistics platform in Japan from ProLogis by GIC Real Estate, the real estate company of the Government of Singapore Investment Corporation, Global Logistic Properties announced today.
The newly launched logo of GLP, suggests key elements of “global connection” and “logistics path” in the brand. It signals that the new company provides a logistics path for its customers with its “global connection”，the company said.
Former ProLogis China management team remains unchanged with GLP, it said. Former ProLogis Chairman and Chief Executive Officer Jeffrey H. Schwartz serves as Chairman of GLP, while Ming Mei, former Chief Executive Officer of ProLogis China and Asian Emerging Markets, is President of GLP.
“We are excited to launch the new brand ‘Global Logistic Properties’ in China and Japan as it marks a new starting point for the team to continue its efforts in ensuring the consistency of our world-class quality assets as well as to explore new business opportunities,” said Jeffrey H. Schwartz, GLP Chairman.
“The sound knowledge of our partner, GIC RE, of this region’s real estate industry also bode well for the team to continue its growth in China despite the global financial turmoil,” he noted.
Dr. Seek Ngee Huat, President of GIC RE, said, “Being Asia’s largest industrial and logistics infrastructure provider, GLP is well-positioned to service the long term needs of its fast-growing and diverse customer base. We believe strongly in the growth of the logistics business in China and that GLP will play a significant role in its progress and development.”
In a major vote of confidence in China’s bright future in the world’s logistic industry, GLP has taken over a 50 percent interest in the 676,000 sqm of industrial portfolio totaling RMB 1.5 billion from Genway Group, a leading comprehensive real estate developer in Jiangsu Province. The facilities currently serve multinational customers such as Philips, Panasonic, Samsung, AMD and Schneider, etc.
“The company will continue to focus on customer service while seeking opportunities in the current economic environment." said Ming Mei, president of GLP.
The company will still keep its original Chinese brand “Pu Luo Si” (普洛斯), GLP said.
About Global Logistics Properties (GLP)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 308 completed properties in 123 logistics parks spread across 26 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centers. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improve the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The company was listed on the main board of Singapore Exchange Securities Trading Limited on October 18th, 2010. (Stock code: MC0.)
By Dec. 31, 2010, GLP manages 54 logistics parks in 19 major Chinese cities, with a portfolio completed and under construction or being repositioned totaled 6.9 million sqm. The facilities are located in the cities of Beijing, Chengdu, Chongqing, Dalian, Foshan, Guangzhou, Hangzhou, Jiaxing, Ningbo, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Tianjin, Wuxi, Zhongshan and Zhuhai.
GLP also manages 69 logistics parks in Japan with a portfolio totaling approximately 2.8 million sqm. The facilities are located in 7 major markets of Tokyo, Osaka, Nagoya, Sendai, Sapporo, Fukuoka, and Hiroshima.
