Malaysia: TASCO Berhad, a Yusen Logistics subsidiary in Malaysia, has reached agreements to acquire two cold chain logistics providers in Malaysia – Gold Cold Transport (GCT) and MILS Cold Chain Logistics (MCCL). The agreements, a press release available in Yusen Logistics’ website said, is subject to approval by BURSA Malaysia, and will enable TASCO to significantly expand its cold chain operations in the country. The proceedings, it added, are expected to be completed by the end of June.
In Malaysia, as the demand for refrigerated transportation and cold storage facilities for perishable products, such as fresh produce, beverages and pharmaceuticals, is rising as a result of population growth and increased personal consumption throughout the ASEAN region, TASCO, the press release highlighted, will make a full-scale entry into the cold chain logistics segment to support growth and business expansion by combining ocean and air cargo transport with contract logistics.
Giving details about the two companies, the press release said that GCT is one of the largest cold chain logistics providers in Malaysia, with 174 reefer trucks and a warehouse storage capacity of about 31,000 m², primarily handling frozen and chilled foods.
MCCL, the press release added, is the tenth largest cold chain logistics provider in Malaysia, which operates chilled and frozen warehouses of about 7,000 m² in the area adjacent to Westport of Port Klang.
With this acquisition, Yusen Logistics said that it expects to make a full-scale entry into the cold chain business in Malaysia, and supplement and strengthen its logistics services.