Rongqing Logistics Company, which stands to become the mainland's largest cold chain logistics provider, has opened for business in northeast Shandong province, Logistics Week reported.
The new company is a joint venture of Shandong-based Rongqing Group, one of mainland's largest cold logistics providers, and two other investors based in Hong Kong and the United States.
The three parties invested US$45 million on expanding the company's transport capacity to one million tons a year and building warehouses, logistics centres and developing an information system.
The company is estimated to have an annual sales value of CNY1 billion and will seek a listing in 2010.
The Rongqing Group has seven branches and more than 20 representative offices in China and a fleet of 600 trucks. It has been contracted to be one of the cold logistics provider for catering at 2008 Beijing Games. Its clients include a number of leading brands such as Pepsi and Siemens.
The new company is a joint venture of Shandong-based Rongqing Group, one of mainland's largest cold logistics providers, and two other investors based in Hong Kong and the United States.
The three parties invested US$45 million on expanding the company's transport capacity to one million tons a year and building warehouses, logistics centres and developing an information system.
The company is estimated to have an annual sales value of CNY1 billion and will seek a listing in 2010.
The Rongqing Group has seven branches and more than 20 representative offices in China and a fleet of 600 trucks. It has been contracted to be one of the cold logistics provider for catering at 2008 Beijing Games. Its clients include a number of leading brands such as Pepsi and Siemens.