Sino-Global Shipping America, Ltd., an international shipping agency and logistic services provider, said that it has signed a strategic cooperation agreement with Qingdao Zhenghe Shipping Group Limited to jointly explore mutually beneficial business development opportunities.
With over RMB 2 billion in total assets and over 6,000 employees, Zhenghe is one of the largest shipping and transportation companies in China .
While the precise nature of cooperation will be dictated by successful completion of due diligence, negotiation and analysis of each company’s respective strengths and business opportunities, Sino-Global expects that acquisition of assets or interests in one or more of Zhenghe’s entities could be possible outcomes.
Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Globa l commented, “ We are extremely excited about this unique opportunity to work with Zhenghe. We believe this strategic agreement lays the foundation for us to combine our strengths and resources for both parties’ benefit.”
[mappress] Press Release, May 29, 2014; Image: Sino-Global