Kerry Logistics Network has acquired 50% of shares in Lanzhou Pacific Logistics (LPL) as it looks to further develop its China-Europe rail freight operations.
Kerry Logistics will join China Railway Container Transport Company as a shareholder in LPL.
"The investment marks another strategic step in advancing Kerry Logistics’ expansion into the rail freight and multimodal services under the ‘Belt and Road’ Initiative," the forwarder said.
LPL specialises in intermodal brokerage services across China and Central Asia including Uzbekistan, Kazakhstan, and Russia. Leveraging on CRCTC’s extensive rail network in China, LPL has a nationwide rail freight network covering more than 100 cities and provides container freight stations and domestic door-to-door logistics services.
LPL’s clientele includes a number of Fortune 500 enterprises located in China, spanning the non-ferrous metals, chemicals, auto parts, agriculture, and building materials industries.
