Lineage Logistics, based in Novi, MI, has secured a joint venture arrangement with Hanoi-based cold-storage warehouse operator SK Logistics to expand its network in Southeast Asia, the company announced on Businesswire. The financial terms of the deal were not disclosed.
“Partnering with SK Logistics is a remarkable opportunity for us to continue delivering world-class cold storage solutions in the Asia Pacific region alongside a proud and thriving family business,” Brooke Miller, President Asia Pacific at Lineage, said in the release.
The expansion effort in Asia Pacific through Vietnam is part of a greater long-term strategic goal for the company. The region is considered a significant economic contributor, Miller said. “These facilities serve a wide range of customers, including supermarket chains that provide food for families across the region. We are excited to keep growing these valuable relationships together with SK Logistics as we continue in our mission to feed the world.”
At nearly 400,000 square feet, SK Logistics’ two cold storage warehouses reflect an expanded capacity in Vietnam for Lineage Logistics, the release said. The facilities can provide storage, distribution, stamping, weighing, classification, packing, and picking services for local customers.
“Vietnam is an important market for Lineage, and partnering with a reliable and proven operator like SK Logistics helps us to continue delivering excellence in supply chain solutions in the region," Miller said.
Lineage’s integrated assets and supply chain operations have now been implemented across both the northern and southern ends of Vietnam, with facilities in both Hanoi and Ho Chi Minh City, the company said.
“Lineage is one of the world’s leading temperature-controlled industrial REITs (real estate investment trusts) and integrated solutions providers with a global network of over 400 strategically located facilities, totaling nearly two billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific,” the press release says.