John Menzies expands into Chinese cargo market with £3.4m investment
Aviation specialist John Menzies has expanded into the Chinese cargo market with a multi-million pound investment.
The firm has agreed a £3.4m investment to acquire a minority equity stake, by way of a joint venture, in Guangzhou JFreight Aviation Logistics Supply Chain Co. Ltd (JFreight).
The joint venture will see Menzies manage and operate a new cargo terminal at Guangzhou Baiyun International Airport in China on behalf of the shareholders of JFreight.
Philipp Joeinig, chairman & CEO, commented: “I am delighted to be able to announce this expansion in the Chinese cargo market.
“We are very pleased to have found a great partner in JFreight and I look forward to developing our relationship with them as we move forward.”
“This investment demonstrates our commitment to delivering on our strategy and I am very excited about the opportunity it brings.”
Zheng Xi Ming, chairman of JFreight, added: “I am very pleased to welcome Menzies Aviation with their established expertise in cargo handling and the wider aviation services market into our venture in Guangzhou. I very much look forward to working closely together and delivering successful operations.”
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