GLP Forms Strategic Alliance with Guangdong Holdings
GLP has entered into a strategic alliance with Guangdong Holdings Limited, a leading China state-owned company, to jointly develop logistics and industrial facilties in Dongguan, Southern China. Both parties will collaborate on Guangdong GDH Equipment Technology Industrial Park, the largest investment project in Dongguan.
- GLP forms strategic alliance with one of the largest SOEs in Guangdong Province, Southern China
- GLP and Guangdong Holdings will work together to jointly develop logistics and industrial facilities on site area of up to 3 million sqm (32 million sq ft) at Guangdong GDH Equipment Technology Industrial Park
- Strategic alliance sets the pace for future collaborations as GLP scales up its network and accelerates growth across China
Singapore, 25 February 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has entered into a strategic alliance with Guangdong Holdings Limited (“GDH”), a leading China state-owned company, to jointly develop logistics and industrial facilities in Dongguan, Southern China. Both parties will collaborate on Guangdong GDH Equipment Technology Industrial Park (“the Park”), the largest investment project in Dongguan.
The Park, which is at masterplan development stage, sits on an 18 million square meter (“sqm”) (194 million square feet (“sq ft”)) site that will comprise industrial, commercial and residential components. It is a strategically important project for the government as it addresses China’s growing demand for modern logistics facilities. GLP will partner with GDH to jointly develop logistics and industrial facilities on site area of up to 3 million sqm (32 million sq ft). Additionally, the two companies have agreed to explore further collaboration opportunities in Guangdong Province.
Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP, said: “We are excited to partner with GDH on a project of such large scale. The Park will leverage GLP’s expertise in designing, building and managing logistics and industrial parks and GDH’s deep local presence and land sourcing capabilities. This strategic alliance sets the pace for future collaborations and puts us in excellent position as we scale up our network and accelerate growth across China.”
Mr. Huang Xiaofeng, President of GDH, said: “We are delighted to forge this long-term partnership with GLP. Their logistics infrastructure expertise and global network of customers will be integral in helping us build a world-class industrial park in Southern China. We look forward to continued cooperation.”
GDH is one of the largest state-owned companies in Guangdong Province. It has four subsidiaries traded on the Hong Kong Stock Exchange and is engaged in a variety of businesses including public utilities and infrastructure, manufacturing, real estate development and hotel management.
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 23.4 million square meters (252 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving 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.
