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Link Global Logistics acquired German airport
POSTED: 8:50 a.m. EDT, May 30,2007
Chinese forwarding and logistics company, Link Global Logistics, has signed a formal agreement to acquire the German air cargo airport of Parchim for CNY1 billion (US$130.7 million).
Link chairman Pang Yuliang said the plan is to operate air cargo services and weekly passenger charter flights to the airport in the northern Germany city of Schwerin from its chief base in the mainland city of Zhengzhou in Henan province, reports Deutsche Presse-Agentur. Schwerin is halfway between Berlin and Hamburg.
The purchase price includes the land, assets, all equipment and installations at the German airport. The agency said Beijing-based Link officials are now planning to invest more than EUR20 million ($27 million) in the airport. Unlike many other German airports, Parchim Airport is permitted to operate round-the-clock.
The Chinese forwarder, which handles air and sea freight, was said to have fended off competition from 10 other international bidders to land the contract. |
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