GLP Forms Strategic Alliance with Jinbei, Leading China State-Owned Auto Manufacturer

GLP Forms Strategic Alliance with Jinbei, Leading China State-Owned Auto Manufacturer

GLP has formed a strategic alliance to develop logistics and industrial facilities in Shenyang, Northern China. GLP and Jinbei Automotive Industries Co., Ltd., a subsidiary of Brilliance Group, will collaborate on a strategically important devleopment in Shenyang Economic Development Zone.

  • GLP has formed a strategic alliance with Jinbei, a subsidiary of Brilliance Group, a leading SOE automobile manufacturer
  • GLP is partnering with Jinbei to develop logistics and industrial facilities totaling up to 2 million sqm (22 million sq ft) in Shenyang, Northern China
  • Strategic location adjacent to BMW Brilliance’s assembly plant in Shenyang Economic & Technological Development Area (“SEDA”)
  • GLP is accelerating growth of its network and increasing efficiency in the logistics industry

 

Singapore, 4 March 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has formed a strategic alliance to develop logistics and industrial facilities in Shenyang, Northern China. GLP and Jinbei Automotive Industries Co., Ltd.  (“Jinbei”), a subsidiary of Brilliance Group, will collaborate on a strategically important development in Shenyang Economic Development Area (“SEDA”).
 

SEDA is a rapidly urbanizing district with a large automotive industry presence and is facing a critical lack of modern logistics facilities. GLP will develop logistics and industrial facilities totaling up to 2 million square meters (“sqm”) (22 million square feet (“sq ft”)) on a site that is located adjacent to BMW Brilliance Automotive’s (“BMW Brilliance”) assembly plant.
 

GLP and Jinbei will initially develop 246,000 sqm (2.6 million sq ft) of state-of-the-art facilities to meet demand from BMW Brilliance’s suppliers, as well as other companies in the automotive supply chain.
 

Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP, said: “We are excited to establish this strategic alliance with Jinbei. With our expertise in logistics infrastructure development and Jinbei’s deep local presence, we have acquired land on a prime site that provides significant opportunities for growth. We will continue to invest in strategic locations across China to accelerate the growth of our network.”
 

GLP’s project is part of a 13 million sqm (140 million sq ft) zone within SEDA that will comprise industrial, commercial and residential components. GLP will build state-of-the-art logistics and industrial facilities to increase logistics efficiency for manufacturers, retailers and 3PLs in Shenyang.
 

Mr. Xu Xiaomin, Chief Executive Officer of Jinbei, said: “We are delighted to forge this strategic alliance with GLP. They have an unrivalled track record in designing, building and managing world-class logistics and industrial parks across China, and their partnership will be integral in helping us lower logistics costs in the automotive industry. We look forward to continued cooperation.”
 

Brilliance Group is a leading Chinese state-owned automobile manufacturer headquartered in Shenyang. Jinbei is a subsidiary of Brilliance Group. BMW Brilliance is a 50:50 joint venture between BMW and Brilliance Group and is focused on the production, distribution and sale of BMW passenger cars in mainland China. BMW Brilliance’s assembly plant in SEDA began operations in 2012 and is currently manufacturing BMW X1 and 3 Series models, with current capacity of 100,000 vehicles per year. China overtook the US to become BMW’s largest market in 2013.



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

 

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