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Goodman China enlarges logistics assets to US$1 billion
By Feng Jianmin |
August 30, 2012, Thursday
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Online Edition
Online Edition
CANADA'S pension fund manager and Goodman Group said today they have invested an additional US$500 in Goodman China Logistics Holding to tap the country's growing demand.
Mark Machin, president of Canada Pension Plan Investment Board Asia Inc, said that a rising domestic demand for consumer goods is fueling the development of a modern and efficient logistics sector in China.
CPPIB increased equity allocation to the company by US$400 million while Goodman invested US$100 million. Together they doubled the equity of Goodman China Logistics Holding to US$1 billion.
Goodman China Logistics Holding now has 4 million square meters of logistics properties under development, and the company will start building 800,000 square meters of new logistics facilities in the next 12 months, according to Greg Goodman, Goodman Group CEO.
Mark Machin, president of Canada Pension Plan Investment Board Asia Inc, said that a rising domestic demand for consumer goods is fueling the development of a modern and efficient logistics sector in China.
CPPIB increased equity allocation to the company by US$400 million while Goodman invested US$100 million. Together they doubled the equity of Goodman China Logistics Holding to US$1 billion.
Goodman China Logistics Holding now has 4 million square meters of logistics properties under development, and the company will start building 800,000 square meters of new logistics facilities in the next 12 months, according to Greg Goodman, Goodman Group CEO.
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