Menzies expands into Chinese cargo market
Menzies will operate a new cargo terminal
John Menzies, the Edinburgh-based global aviation services business, has expanded into the Chinese cargo market.
It has invested £3.4m to acquire a minority equity stake, by way of a joint venture, in Guangzhou JFreight Aviation Logistics Supply Chain Co.
The JV will see Menzies manage and operate a new cargo terminal at Guangzhou Baiyun International Airport in China, one of the world’s busiest airports, on behalf of the shareholders of JFreight.
JFreight is experienced in artificial intelligence and robotics and has used its technical skills to create a smart terminal with an electronic interaction point with Chinese customs.
The terminal has capacity to handle 120,000 tonnes annually. It is envisaged that Menzies’ initial focus will be on the handling of product related to the fast growing Chinese e-commerce market with the potential to expand into more general air cargo handling for airlines in the future.
Philipp Joeinig, Chairman & CEO, said: “We are very pleased to have found a great partner in JFreight.
“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.”