GLP Extends Cooperation with COFCO To Lease 30,000 sqm (323,000 sq ft) in China

GLP Extends Cooperation with COFCO To Lease 30,000 sqm (323,000 sq ft) in China

GLP has signed a lease agreement of approximately 30,000 sqm (323,000 sq ft) with Womai.com, the B2C e-commerce platform of COFCO, China’s largest food processing, manufacturing and trading company.

  • Womai.com, the B2C e-commerce platform of COFCO, will establish a regional distribution center at GLP Park Langfang, Northern China
  • GLP’s partnership with COFCO now extends to three cities
  • GLP’s national network supports e-commerce distribution throughout China

 

Singapore, 3 December 2013 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a lease agreement of approximately 30,000 square metres (“sqm”) (323,000 square feet (“sq ft”)) with Womai.com (“Womai”), the B2C e-commerce platform of COFCO, China’s largest food processing, manufacturing and trading company.

Womai will use the facility to establish a regional distribution center serving consumers in Northern and Northeastern China. Including the lease agreement announced today, COFCO leases GLP facilities across three cities in China, including Greater Guangzhou- Foshan, Langfang and Suzhou.

Kent Yang, President of GLP China, said: “We are excited to extend our partnership with COFCO in China. The continued growth of e-commerce in China is driving demand for our extensive network of modern logistics facilities. This agreement exemplifies our commitment to meeting and exceeding the needs of our customers, and we look forward to working with COFCO again in the near future.”

Li Xunyang, Vice President of Womai.com, said: “GLP Park Langfang’s strategic location is ideal for distribution to Beijing and Tianjin and throughout the region. GLP’s flexible network, high-quality facilities and professional service are truly impressive. They are an ideal partner for our expansion needs.”

GLP Park Langfang is situated in Longhe Industrial Park, a location that has attracted many industry-leading companies. Strategically located between Beijing and Tianjin, GLP Park Langfang enables customers to efficiently serve both of these major consumption centers. China remains GLP’s primary growth market, with rising demand for modern logistics facilities driven by higher rates of domestic consumption, urbanization and e-commerce.

COFCO is the largest supplier of products and services in the food industry in China. Womai.com, established in 2009, is COFCO’s B2C e-commerce platform and one of the largest B2C e-commerce platforms for food in China. Since 2009, it has achieved an average annual growth rate of 200%.


About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 22.4 million square meters (241 million square feet) is strategically located across 62 cities, forming an efficient logistics network serving more than 700 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.

The Group 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

## END ##


This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries.  Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," “intends,” “foresees,” “estimates,” “projects,”  and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements.  Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.