TNT opens life sciences regional distribution centre in Singapore
Global express services provider, TNT, is riding the life sciences boom in Singapore.
The company has officially opened its largest life sciences-focused regional distribution centre here, which costs over S$8 million.
The facility at Changi South is expected to handle over US$100 million worth of medical equipment alone every year.
TNT’s new Life Sciences Express Hub uses the latest in cold chain management technology to safely transport and store goods.
This ranges from medical devices and clinical diagnostics, to pharmaceuticals and biotechnology.
The 65,500-square-foot facility serves as a regional logistics centre for TNT’s multinational customers in the life sciences industry.
Their products are consolidated at the Singapore facility before being delivered across Asia.
Onno Boots, Regional Managing Director, TNT, South East Asia, said, “The main benefit to the customers really is the effect to eliminate local warehouses all throughout the Asian countries and centralise that in Singapore and then connect that with TNT’s distribution network to any major city in Asia within 24 hours.”
TNT is readying itself for a wave of new business in Asia.
Industry estimates show that the medical devices and diagnostic market, as well as the pharmaceutical market in the region, are set to grow over 10 percent in the next five years.
Lim Siong Guan, Chairman, Economic Development Board, Singapore, said, “Clearly TNT can ride on the strong growth in Singapore’s biomedical sciences industry. The industry did exceptionally well in 2006. The manufacturing output grew strongly to S$23 billion in 2006, an unprecedented 30 percent increase over 2005.”
TNT currently controls 60 percent of the outsourced R&D logistics for the life sciences industry in Singapore.
TNT plans to continue to grow its life sciences logistics business in Singapore.
The segment represents about 10 percent of the company’s total revenue here and TNT is targeting to double this figure over the next few years.
