Release Date: 20 July 2008
Release ID: 1449
Joint Venture Will Provide Third-Party Logistics Services to Canon, Inc. -ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities,announced today it has leased approximately 205,000 square feet (19,000
square meters) in Dalian, China to Nittsu Sinotrans Logistics Dalian LTD., a joint venture between Sinotrans Liaoning Company and Nippon Express.
Nittsu Sinotrans will occupy distribution space at ProLogis Park Dalian Free Port, providing third-party logistics and transportation services to Canon Inc., a world leader in professional business and consumer imaging equipment and information systems. Sinotrans and Nippon Express formed the joint venture in 1992, to combine specialties and together expand its customer base in Dalian.
"We are pleased Nittsu Sinotrans has selected ProLogis Park Dalian Free Port as its new distribution hub in the region," said Ming Mei, president for ProLogis in China. "This is a premier distribution site in northeastern China, especially with its close access to Dalian Free Port and proximity to markets in Korea and Japan."
ProLogis Park Dalian Free Port is a master-planned distribution park comprising approximately 1.4 million square feet (130,000 square meters) of distribution space. The park is located in Dalian Free Port area, immediately adjacent to the Dalian container yard and to land that will be used to accommodate a planned, two-phase expansion of the port taking place through 2010. It also offers easy access to two nearby expressways, as well as Dalian's airport and central business district.
Sinotrans Liaoning Company is a wholly owned subsidiary of Sinotrans, one of China's largest logistics companies offering a variety of services including international freight forwarding, air cargo and international express. Nippon Express is a world leader in logistics design and offers a variety of multi-modal supply chain management services in its network, which spans more than 80 countries.
ProLogis is one of the leading providers of industrial distribution space in China with more than 24.8 million square feet (2.3 million square meters) in operation and under development as of March 31, 2008. Major customers in China include adidas, Best Buy, DHL, L'Oreal, Menlo Worldwide, Nokia, NYK, Samsung, UPS and Yum! Brands.
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