Menzies(John) PLC Expansion into Chinese Cargo Market
14 June 2021 - 4:00PM
RNS Non-Regulatory
TIDMMNZS
Menzies(John) PLC
14 June 2021
14 June 2021
John Menzies plc
Expansion into Chinese cargo market
John Menzies plc ("Menzies"), the global aviation services
business, is pleased to announce that it has agreed a GBP3.4m
investment to acquire a minority equity stake, by way of a joint
venture, in Guangzhou JFreight Aviation Logistics Supply Chain Co.
Ltd ("JFreight").
The joint venture 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. This investment creates a strong platform for Menzies
in this attractive growth market and represents clear delivery
against the Company's strategic objectives of optimising its
portfolio with a greater focus on cargo and expanding its
geographical footprint into new markets.
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:
I am delighted to be able to announce this expansion in the
Chinese cargo market. 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. I very much look
forward to working closely together and delivering successful
operations."
For further information
John Menzies plc
John Geddes, Corporate Affairs Director & Group Company Secretary 0131 459 8044
FTI Consulting
Alex Beagley/Fern Duncan 020 3727 1000
Notes to editors:
John Menzies plc ("Menzies") is a leading global provider of
ground services, into-plane fuelling and air cargo services.
Menzies operates at 200 airports in 35 countries, supported by a
global team of 23,000 highly-trained people.
In 2020 Menzies handled 0.5 million aircraft turns, 1.2 million
tonnes of cargo and fuelled 1.9 million turnarounds. Customers
include Air Canada, Air China, Air France-KLM, American Airlines,
Cathay Pacific, easyJet, Frontier Airlines, IAG, Qantas Group,
Qatar Airways, Southwest, United Airlines, WestJet and Wizz. Best
in class safety and security is the number one priority each day
and every day.
John Menzies plc, one of Scotland's oldest and largest
companies, was established in 1833 as a book seller on Edinburgh's
Princes Street and is still headquartered in the city. Today the
company is an international aviation services business with
operations worldwide.
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