John Menzies is making moves into China, acquiring a minority equity stake in Guangzhou J Freight Aviation Logistics Supply Chain for £3.4m.
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.
JFreight uses artificial intelligence and robotics to create a smart terminal systems and an electronic interaction point with Chinese customs.
The terminal has capacity to handle 120,000 tonnes annually. Menzies’ initial focus will be on the handling of products related to the growing Chinese e-commerce market, with the potential to expand into more general air cargo handling for airlines in the future.
Philipp Joeinig, Menzies chairman and chief executive, said: “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 said: “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.”
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