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GLP in partnership deal with China firm
GLOBAL Logistic Properties (GLP) announced a strategic alliance with China's state-owned Jinbei Automotive yesterday, the warehouse provider's sixth partnership with a Chinese company in two weeks. The companies will partner to develop up to two million square metres of logistics and industrial facilities in Shenyang, beside a BMW assembly plant owned by the German carmaker and Jinbei's parent company, Brilliance Group. GLP and Jinbei will initially develop 246,000 square metres of "state-of-the-art facilities", the warehouse provider said in a statement yesterday. The partnerships come after GLP announced an up to US$2.5 billion investment from a group of Chinese companies last month.
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