Annoucement Letter

Date : 2018-01-04 13:45:08
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ANNOUCEMENT LETTER

Bình Dương, 02nd January 2018,

Dear Valued Customer,

First of all, the Swire Cold Storage Management Board thank you for your trust in supporting and using our service.

John Swire & Sons Ltd (Swire) and Emergent Cold have signed a Sale and Purchase agreement to sell the whole coldchain services in Australia: Swire Cold Storage Pty Ltd and Swire Cold Storage Vietnam to Emergent Cold (attachement is the Press release statement).

We will carry out legal as well as marketing procedures to change the brand from Swire Cold Storage Vietnam to Emergent Cold Vietnam within the next 6 months. All activities of the company, legal status, policies with customers, management team and employees are unchanged.

Once again, we would like to express our sincere thanks to our Valued Customers for using our Swire Cold Storage service and we – Emergent Cold Vietnam commit to continue to pursue the missions and policies which have defined the Swire brand. We look forward to receiving your trust and support.

On the occasion of Spring 2018, Swire Cold Storage Vietnam – Emergent Cold Vietnam would like to wish you a new year with Health, Peace and Properity.

Sincerely thanks,

On behalf of Board Management

Ngo Quang Trung

General Director

 

 

 

MEDIA STATEMENT

22 December, 2017

Swire sells Swire Cold Storage to Emergent Cold

John Swire & Sons Ltd (Swire) and Emergent Cold announced they have signed a Sale and Purchase agreement to sell Swire Cold Storage Pty Ltd and Swire Cold Storage Vietnam to Emergent Cold. Both cold storage businesses have been sold as a going concern and all assets, including customer and employee contracts, warehouses and land will be transferred to the new ownership. The transaction completed on December 22, 2017. Further details of the transaction were not disclosed.

Swire Cold Storage is a leading provider of cold chain logistics in Australia. The business operates a network of temperature-controlled facilities across Australia, with sites totalling in excess of 65 million cubic feet, or 275,000 pallet spaces of refrigerated storage utilising advanced integrated warehouse and transport technologies.

Swire Cold Storage Vietnam is Vietnam’s premium provider of temperature and humidity-controlled warehousing, operating Vietnam’s first cold storage warehouse, a 36,000 pallet facility servicing Ho Chi Minh City. The company recently opened a second facility, a LEED Gold-standard 8,200 pallet warehouse to service Hanoi.

John Swire & Sons Australia Chairman, Geoff Cundle, said that Swire has had a long and successful history in the cold storage industry in Australia dating back to 1956 and Vietnam since 1998. “Today, Swire Cold Storage (SCS) is a well-managed, profitable business with an excellent safety culture. It has been a pleasure working with SCS Australia, Managing Director, Greg Holt and SCS Vietnam General Director, Ngo Quang Trung and their management teams to significantly improve safety and profitability of Swire Cold Storage and position the companies for continued growth under Emergent Cold’s ownership. Swire will continue to focus on growing its specialised logistics and contract mining services business, Kalari HSE, and will be seeking other investment opportunities of scale in Australia.”

Neal Rider, CEO of Emergent Cold, said, “Over the past 60 years, Swire has built the leading cold storage businesses in Australia and Vietnam through dedicated service to customers, commitment to employees and investment in high quality operations. We are excited to partner with this outstanding management team, and we look forward to supporting the continued growth and expansion of the businesses throughout Asia Pacific as part of Emergent Cold.”

MEDIA CONTACTS

John Swire & Sons

Diana Krause, Corporate Communications Manager

Ph: 0420 959 942, Email: dkrause@swire.com.au

Emergent Cold

Angelika Torres, EVP Finance

Ph: 214.212.1150, Email: angelika.torres@emergentcold.com

About Emergent Cold

Emergent Cold LLC is a partnership between an experienced executive team led by Neal Rider and Elliott Management Corporation.   Elliott is a premier money management firm with over $33 billion of assets.  Starting in Australia and Vietnam, Emergent’s strategy is to create a leading global cold chain company through an integrated network of modern assets, strong customer relationships, dedicated employees and innovative technology.

About John Swire & Sons Pty

John Swire & Sons Pty Ltd is the private holding company which has managed Swire’s interests in Australia since 1952. Headquartered in Sydney, Swire established its interests in Australia in 1855 and over 162 years has operated companies in diverse industries.

The company is wholly owned by the global conglomerate John Swire and Sons Ltd (Swire), whose holdings include the publicly listed companies Swire Pacific, Cathay Pacific Airways, Swire Properties, Hong Kong Aircraft Engineering Company (HAECO), and the Papua New Guinea based Steamships Trading Company in addition to a number of privately owned companies. Swire employs more than 130,000 people world-wide and has been in operation for more than 200 years.

As the holding company for the Swire Australia group of companies, John Swire & Sons Pty Ltd provides strategic oversight and governance to its local subsidiaries: Kalari HSE and Alex Fraser. Kalari HSE is a leading provider of specialised logistics and mining solutions to Australia’s major resource companies. Alex Fraser is Australia’s leading provider of recycled construction materials.

For more information, visit: http://swire.com.au