TIANJIN, China, March 25, 2011 /PRNewswire-Asia/ -- The Tianjin Economic-Technological Development Area ("TEDA") (Nangang Industrial Zone) Administrative Commission recently inked an investment memorandum with Globe Express Services (Overseas Group) (GES) at the TEDA International Club located in downtown Tianjin. Ni Xiangyu, Vice Director of the TEDA Administrative Commission, met with Mr. Bahaa Hariri, Chairman of Board of Directors of GES, and they were both present at the signing ceremony. Other important attendees included GES CEO, Ziad Korban, and Cathy Yan, General Manager, Government Affairs and Business Development, PPG Industries Asia Pacific.
Ni said at the ceremony that GES, which has been committed to building the world's state-of-the-art warehouses equipped with the most advanced logistics facilities, can provide key infrastructure for industrial enterprises in TEDA. Positioned as a world-class heavy-chemical industrial base and integrated functional port area, Nangang Industrial Zone needs international third-party logistics providers that are able to support enterprises in the zone by providing them with dedicated supply chain and logistic services. He stated that the TEDA Administrative Commission will continuously enhance services to fully support the development of GES.
Bahaa Hariri said, "This is the first project among a series of infrastructure investments we will make in China. This investment is consistent with our long-term strategy: GES focuses on the core businesses' growth, while taking advantages of capitals to seize opportunities to achieve expansions, which will eventually provide customers with unique value. Looking ahead, we are excited about the potential opportunities and are looking forward to building a closer partnership with TEDA."
Attendees included relevant responsible persons from departments of the TEDA Administrative Commission, including the Construction & Transportation Bureau, the Environmental Protection Bureau, the Bureau of Work Safety, the First Bureau for Investment Promotion and Nangang Economic and Development Bureau.
Founded in 1974, Charlotte, N.C.-based Globe Express Services (Overseas Group) (GES) is a leading global third-party logistics (3PL) provider engaged in general and special logistics services. Through the merger with Overseas Group in March 2010, GES becomes one of the world's Top 100 logistics companies. GES has 42 offices in 19 countries throughout the world with 8 subsidiaries and 2 offices in mainland China. For 2010, the company realized sales of US$500 million.
GES has now been approved to build a dangerous cargo warehouse in the Nangang Industrial Zone. The planned 50,000-square-meter project with an investment of US$16 million will provide services for PPG, upstream/downstream providers and other chemical consumers. The new and fully-automatic warehouse is based on state-of-the-art logistics technologies, including the advanced product coding system, radio frequency identification (RFID), in-warehouse visibility technology and global positioning system (GPS), etc.
About Nangang Industrial Zone
Nangang Industrial Zone, an important part of the "dual-city, dual-harbor" space development strategy of Tianjin, is a dedicated industrial park in TEDA. Located in the south part of Tianjin Binhai New Area, Nangang Industrial Zone is only 45 kilometers away from downtown. With a planned area of 200 square kilometers, Nangang Industrial Zone will build itself into a world-class heavy-chemical industrial base and comprehensive port area with the focus on petrochemical and supporting facilities manufacturing as well as port logistics.
So far, a number of Global Top 500 companies including Dow Chemical, China National Petroleum, Sinopec, Air Liquide and Veolia, as well as other Chinese and foreign chemical makers, have confirmed to establish a footprint in Nangang Industrial Zone. Construction of several manufacturing facilities including the 13-million-ton/year Sino-Russia oil refining project, Sinopec's crude oil storage base and Dow Chemical's logistics center is under way and some projects have been put into operation.
SOURCE Tianjin Economic-Technological Development Area