Release Date: 02 September 2006
Release ID: 832
Recently, Shandong Lishen Co. and Sinotrans Ltd entered into agreement in which Sinotrans acquired 80% shares of Shandong Lishen Co. by way of stock transfer and fund injection. The newly founded company named Shandong Sinotrans Lishen Heavylift Company Ltd ( Sinotrans Lishen) became a special subsidiary of Sinotrans Ltd, involved into the governing system of Sinotrans subsidiaries.
The new company, on basis of resources integration, will bring into full play its advantages and experiences in heavy lift carriage, and will capitalize on the core resources of Sinotrans Ltd in respect of fund, network and customer base, to provide logistics services in heavy lift transport, loading and unloading, and forwarding etc, in the areas of petrol chemicals, energy resources, rail project, and so on. The company will be the only heavy cargo handling platform of Sinotrans at home, to support project logistics expansion of Sinotrans as a whole.
This acquisition will certainly bring further support to the already leading freight forwarding business of Sinotrans and enhance its service network. On the cooperation, management expressed that Sinotrans Lishen, as a bridgehead in the forefront of heavy lift carriage of Sinotrans, will satisfy the even higher demand in heavy lift transportation in the domestic large projects; meanwhile, it will upgrade Sinotrans service level and competitive edge in the heavy lift area, to promote the logistics development of Sinotrans as a whole.
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