Globe Express Services (Overseas Group) Builds Warehouse in Nangang
Charlotte, NC – March 30, 2011: Globe Express Services ® (Overseas Group) and Tianjin Economic-Technological Development Area (TEDA) signed a Memorandum of Understanding today to invest $ 16 Million US Dollars in Tianjin Nangang Industrial Zone through its investment arm in Hong Kong, Classified Properties Limited. GES will build a warehouse of 24,000 square meters covering 50,000 square meters of land, and have signed agreement with chemical giant PPG industries to provide warehousing and distribution services upon completion of construction.
This marks the beginning of strategic partnership of the two companies: by providing warehousing and distribution service to PPG, GES enables the industrial giant to focus more on its core businesses while reducing supply chain cost and improving efficiencies.
Globe Express Services ® (Overseas Group) Chairman, Mr. Bahaa R. Hariri came to Tianjin to witness this important moment, “This is the first of a series infrastructure investment the company will make in China. This investment is in line with our long-term strategy: as we focus on the organic growth of the business, we also leverage our capital to capture expansion opportunities, which will ultimately provide unique value to our customers. We are very excited about the opportunities ahead, and remain focused on ways to grow strategically while enhancing the value of our businesses.”
PPG Asia Pacific General Manager Government Affairs and Business Development, Ms. Cathy Yan commented: “We appreciate the willingness of the top management of GES to invest in this warehouse. Our facility in Tianjin has expanded from 40,000 sqm to 100,000 sqm, and we are seeking a partner with supply chain expertise. It will allow us stay focused on the core production function to produce more value to our customers and the local government.”
TEDA Vice Chairman Mr. Ni Xiangyu welcomed the investment and pointed out the significance to Nangang: “GES is committed to building a state-of-the-art warehouse with the most advanced logistics technologies, and this can complement our infrastructure support to industrial companies in this zone. As a complex covering multiple industries, we need international third party logistics provider to provide professional supply chain and logistics support to make it easier for companies who want to invest here.”
Globe Express Services (Overseas Group) CEO Mr. Ziad R. Korban expressed confidence about this partnership and investment, “We have been serving the second largest chemical company in the world in other areas of the world, and we believe Nangang is where we should be now for our sustained growth in the future. It is people who make a difference, through the officials of Tianjin and Binhai New Area, we see the optimistic future of Nangang and our investment here.”
This marks the beginning of strategic partnership of the two companies: by providing warehousing and distribution service to PPG, GES enables the industrial giant to focus more on its core businesses while reducing supply chain cost and improving efficiencies.
Globe Express Services ® (Overseas Group) Chairman, Mr. Bahaa R. Hariri came to Tianjin to witness this important moment, “This is the first of a series infrastructure investment the company will make in China. This investment is in line with our long-term strategy: as we focus on the organic growth of the business, we also leverage our capital to capture expansion opportunities, which will ultimately provide unique value to our customers. We are very excited about the opportunities ahead, and remain focused on ways to grow strategically while enhancing the value of our businesses.”
PPG Asia Pacific General Manager Government Affairs and Business Development, Ms. Cathy Yan commented: “We appreciate the willingness of the top management of GES to invest in this warehouse. Our facility in Tianjin has expanded from 40,000 sqm to 100,000 sqm, and we are seeking a partner with supply chain expertise. It will allow us stay focused on the core production function to produce more value to our customers and the local government.”
TEDA Vice Chairman Mr. Ni Xiangyu welcomed the investment and pointed out the significance to Nangang: “GES is committed to building a state-of-the-art warehouse with the most advanced logistics technologies, and this can complement our infrastructure support to industrial companies in this zone. As a complex covering multiple industries, we need international third party logistics provider to provide professional supply chain and logistics support to make it easier for companies who want to invest here.”
Globe Express Services (Overseas Group) CEO Mr. Ziad R. Korban expressed confidence about this partnership and investment, “We have been serving the second largest chemical company in the world in other areas of the world, and we believe Nangang is where we should be now for our sustained growth in the future. It is people who make a difference, through the officials of Tianjin and Binhai New Area, we see the optimistic future of Nangang and our investment here.”