United States-based logistics firm Lineage Logistics has on Friday announced it has partially closed a joint venture arrangement with Vietnam-based cold-storage warehouse operator SK Logistics.

While financial terms of the transaction were not disclosed, Lineage Logistics said in a statement that the joint venture allowed the firm to expand its network in Southeast Asia.

According to the statement, SK Logistics’ two cold storage warehouses, totaling almost 400,000 square feet, represent a strong increase in capacity in the north of Vietnam for Lineage.

These facilities offer storage, distribution, stamping, weighing, classification, packing, and picking services for important customers in the region.

With the joint venture, Lineage in Vietnam now has integrated assets and supply chain solutions in both the northern and southern ends of the country, with facilities in both Hanoi and Ho Chi Minh City.

“Partnering with SK Logistics is a remarkable opportunity for us to continue delivering world class cold storage solutions in the Asia Pacific region alongside a proud and thriving family business,” said Brooke Miller, President Asia Pacific at Lineage.

According to her, these facilities serve a wide range of customers, including supermarket chains that provide food for families across the region.

“We are excited to keep growing these valuable relationships together with SK Logistics as we continue in our mission to feed the world,” she said.

She also said expanding Lineage’s footprint in Asia Pacific through Vietnam as a significant economic contributor in the region continues to be a long-term strategic goal for the company.

“Vietnam is an important market for Lineage, and partnering with a reliable and proven operator like SK Logistics helps us to continue delivering excellence in supply chain solutions in the region,” she added.

Lineage is one of the world’s leading temperature-controlled industrial real estate investment trusts (REITs) and integrated solutions providers with a global network of over 400 strategically located facilities, totalling nearly 2 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific.

Coupling industry-leading expertise in end-to-end logistical solutions and innovative technology, the firm partners with the world’s largest food and beverage companies to increase distribution efficiency, advance sustainability, minimize supply chain waste.

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