Deutsche Post's DHL buys Singapore facility for 38 million Singapore dollars (USD 26.49 million)
DHL said it has bought a cargo transshipment facility in Singapore from Singapore Airport Terminal Services (SATS) for 38 million Singapore dollars.
The facility has been operating under lease from SATS since 2001.
The facility, which sits on an 18,000 square meter site, is capable of processing 5,300 shipments per hour at its peak and is expected to increase its cargo handling capacity to more than 11,000 shipments per hour by 2011.
“Our infrastructure in Singapore is an important link in our network of express hubs in Asia Pacific, and owning the building allows for future expansion as trade flows increase,” said Stephen Fenwick, DHL Express’ senior vice president for operations in Asia Pacific.
DHL’s hubs in Asia are in Bangkok, Hong Kong, Incheon, Shanghai and Sydney.
