24 June 2013 08:12 [Source: ICIS news]
SINGAPORE (ICIS)--North European Marine Service (NEMS), a division of Impala, has formed a joint venture with China’s SIPG Logistics (SIPGL) to create a specialist logistics network, Impala said on Monday.
The 50:50 joint venture, Shanghai NEMS Port Logistics, will collect and deliver raw materials and finished products across China and through the NEMS global network of distribution hubs, according to the Impala’s statement.
The joint venture will also be able to provide financial and logistics support to Chinese companies, enabling them to break into overseas markets, according to the statement.
Customers outside China will benefit from a priority access to SIPGL’s established infrastructure network and close links to the Chinese domestic industry, the statement added.
NEMS will complete construction of a new 20,000 square metre floor capacity warehouse in the Yangshan Free Trade Port Area, Shanghai in October 2013, further increasing its storage capacity in China.
Financial details of the deal were not disclosed.
Impala, a wholly-owned subsidiary of Trafigura, is a metals warehousing and logistics company. SIPGL is a logistics enterprise owned by Shanghai International Port.
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