China Chaintek United Co., Ltd Opening of Regional Distribution Centre (5476P)
09 Junho 2015 - 3:00AM
UK Regulatory
TIDMCTEK
RNS Number : 5476P
China Chaintek United Co., Ltd
09 June 2015
Press Release 9 June 2015
China Chaintek United Co., Ltd
("Chaintek" or the "Group")
Opening of Regional Distribution Centre
Chaintek (AIM: CTEK), the provider of logistics services to
manufacturers of consumer goods in China, announces that the Group
has entered into an agreement to lease a Regional Distribution
Centre ("RDC") in Changsha, the capital of Hunan Province in
South-Central China.
The opening of this strategically located RDC, as outlined in
the Group's AGM trading update issued on 8 May 2015, will further
progress the Group's aim of becoming a national logistics company
within the PRC while servings its customers' needs. With the
increasing cost of land and labour around the coastal regions of
China, as well as workforces returning to Central China, a number
of shoe and apparel companies are considering the relocation of
their manufacturing operations to cheaper regions inland. Chaintek
is therefore pursuing a strategy to be able to provide for its
customers in these more centrally located regions.
The 13,500m(2) RDC in Changsha will initially be used to service
Guangzhou ShengYu Footwear Ltd (Brand name: Josiny), which has also
signed a two year warehouse service contract with Chaintek. The
cost of the RDC is expected to be significantly lower than either
of the existing Guangzhou and Hangzhou warehouses and the leasing
period runs for an initial two year period to 13 May 2017.
Xu Meijin, Chief Executive Officer of Chaintek, said: "We aim to
serve our customers' needs and the opening of this strategically
located RDC allows Chaintek to be one step ahead of our key
customers. The two year lease agreement gives us the flexibility to
evaluate the strategic positioning of the RDC while creating a
footprint in a new manufacturing centre."
- Ends -
For further information:
China Chaintek United
Co., Ltd
Derrick Wong (Finance +65 9227 8485
Director) +86 159 8597 3034
ZAI Corporate Finance
Peter Trevelyan-Clark/ Tel: +44 (0) 20 7060
Ivy Wang (Nomad) 2220
Steven Baird (Broker)
Abchurch Communications
Henry Harrison-Topham
/ Quincy Allan +44 (0) 20 7398 7714
chaintek@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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