YCH AND QINGDAO IRON & STEEL GROUP TO COLLABORATE IN GROWING THE LOGISTICS SECTOR OF SHANDONG PROVINCE
Qingdao, CHINA, JUN 9th, 2014 - YCH Group ("YCH"), Asia Pacific's leading integrated logistics and end-to-end supply chain solutions partner signed an MOU (Memorandum of Understanding) with state-owned steel manufacturer, the Qingdao Iron & Steel Group Co. Ltd ("QDIS") today to jointly develop a state-of-the-art, 13.3 hectares (200 mu) supply chain facility in Qingdao's Li Cang district to offer full-suite, end-to-end supply chain solutions to both international and domestic manufacturers aspiring to expand their presence in Shandong province. The signing was witnessed by Mr. Ma Weigang, Director of Qingdao's Bureau of Commerce (BOFCOM) and Mr Law Chung Ming, Group Director of China in International Enterprise Singapore ("IE"), among other dignitaries.
The hi-tech facility would be catered to the logistics and value-adding activities of perishables including F&B, white goods, consumer electronics and other FMCG products. YCH will apply its signature City Supply ChainTM (CSCTM) solution to manage these consumer items to ensure food quality and freshness, product security and timely deliveriesthrough inventory and route optimization.
YCH and QDIS seal their partnership to boost supply chain standards in Shandong province.
QDIS Chairman & CEO Mr Wang Junting and YCH Chairman & CEO Dr Robert Yap having a friendly discussion.
Home to the world-famous Tsingtao Brewery and electronics giant Haier, Qingdao is a major seaport and industrial centre located in eastern Shandong province. Hailed as China's most liveable city by the Institute of City Competitiveness (CICC) in 2012, Qingdao has also seen one of the fastest GDP growths among cities in China during the last decade.
Having identified the increasing demand of companies in Shandong provincerequiring specialized supply chain expertiseto make their next leap of growth, Chairman & CEO of QDIS Mr. Wang Junting said, "We proposed to work exclusively with YCH Group as we were impressed by their best-in-class supply chain solutions that haveconsistently delivered increased productivity and business performance for their world-class customers. Qingdao Iron & Steel Group is confident that our cooperation will benefit from YCH's international know-howand excellent track record in modern logistics."
Chairman & CEO of YCH Group Dr Robert Yap said "YCH is honoured to be partnering the highly esteemed Qingdao Iron & Steel Group to service the rapidly growing pipeline of supply chain opportunities in the Shandong province. As Qingdao ramps up its high-tech production, we are committed to designing scalable supply chain solutions to sustain the city's growth momentum in export and consumption. This collaboration will also allow YCH to further fortify our presence along China's coastline - reinforcing our key hubs such as Tianjin and Shanghai, for enhanced freight connectivity and network optimization."
Founded in 1955 and 1958, both YCH and QDIS are well-established niche players in their respective industries with more than a combined century of steadfastness and excellence. Though different in product offerings, the partnership will allow both companies to leverage various synergies in business philosophy and customer portfolio.
About YCH Group ('YCH')
Founded in 1955 and headquartered in Singapore, YCH Group is the leading end-to-end supply chain solutions partner to some of the world's largest companies and favourite brands across the Asia Pacific region. Its suite of innovative award-winning end-to-end supply chain management solutions - IntributionT, IntrabutionT, RetrogisticsT - employ cutting edge web-technologies that are best-in-class across industry clusters from consumer and electronics to chemical and healthcare, to deliver powerful competitive advantages for customers.
As a pioneer Singapore firm to enter the Chinese market through Shanghai in the mid 90s, YCH has since built a comprehensive logistics network in the Greater China region with presence in Tianjin, Hangzhou, Suzhou, Kunshan, Xiamen, Chengdu, Shenzhen, Guangzhou, Macau and Hong Kong servicing MNC customers such as Dell, Ferrero, ExxonMobil, Compal, Carrefour and Samsung. YCH specializes in implementing City Supply ChainTM (CSCTM) solutions that are customized to overcome logistical and infrastructural challenges for the mainland China market - apart from reducing air pollution and traffic congestion, CSCTM lowers overall logistics costs by optimizing cities' distribution networks and improving food freshness and product safety and security.
For further information, please visit www.ych.com
Founded in 1958, Qing Dao Iron & Steel Group Company Limited is one of the top ten enterprises in Qingdao city and a key national metallurgical enterprise of China. The company has various quality certifications such as ISO9001, OHSAS18001 and ISO140001 under its belt and manufactures steel products and construction materials (including wire rods, structural steel bars, seamless tubes, welded mesh, coke, pipes and nails, etc.) that are required by industries such as shipbuilding, automobile, machinery and petrochemicals. Qingdao Iron & Steel Group sells its products under Ding, Three Star, Golden Deer, and Double Dragon brands.
For further information, please visit www.qdsteel.com
For media enquiries, please contact:
Ms Tien Yushan, YCH Corporate Communications at Email: firstname.lastname@example.org or (65) 6417 2773 / 9772 7150.