GKE, Kleio forms chemical warehousing JV in Singapore

GKE, Kleio forms chemical warehousing JV in Singapore

9:37 AM, 26th December 2017
GKE logo

SINGAPORE: GKE Corporation Limited, a leading integrated warehousing and logistics solutions provider, said that it has invested in a joint venture company, G-Chem Logistics Pte Ltd (G-Chem), with Kleio One-Solution Pte Ltd (Kleio) to carry out hazardous chemicals warehousing and logistics services for packed products, laden ISO tanks and chemical drumming.

GKE will invest cash amounting to S$0.30 million and will own a 65 percent of G-Chem, while Kleio will own the remaining 35 percent for approximately S$0.16 million in cash.

The total consideration of approximately S$0.46 million will be used for funding the purchase of four units of explosion-proof pallet drum filling machines for its business activities, and working capital.

“This joint venture will further strengthen the group’s hazardous chemical storage and logistics capabilities – broadens our range of services and transforms the group into a one-stop integrated chemical storage and logistics service provider to serve both the chemical and pharmaceutical sectors in Singapore. We believe the horizontal expansion within the specialised chemicals space will augment growth in our core warehousing and logistics business,” said Neo Cheow Hui, chief executive officer of GKE.

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