Loscam introduces new strategic shareholders
CMG fully acquired Loscam in 2010 and has since seen Loscam successfully grow to become Asia-Pacific’s largest pallet pooling company.
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Wang Hong, executive vice president of China Merchants Group (“CMG”) and the Chairman of Sinotrans Ltd. (“Sinotrans”) announced that the restructuring of state-owned enterprises mixed ownership reform for China Merchant Loscam has successfully been completed with the introduction of two new strategic shareholders, CITIC Capital Holdings Ltd. (“CITIC Capital”) and FountainVest Partners (“FountainVest”).
CMG fully acquired Loscam in 2010 and has since seen Loscam successfully grow to become Asia-Pacific’s largest pallet pooling company. This latest announcement is another major strategic decision to further strengthen the ownership structure of Loscam and drive the business to further success. The new investors bring new sector expertise which will further support the company’s long-term expansion plans. After the introduction of the two new investors, Sinotrans continues to remain as the major shareholder of Loscam. At the officiating ceremony, all 3 shareholders expressed their confidence in the growth potential of Loscam and their trust in the management team. The company’s daily operations will remain unchanged and will be supported by the new board of directors. The management of Loscam are excited with the new ownership structure and the experience, diversity and extensive financial management knowledge they bring to Loscam. These along with the extensive resources in both domestic and global regions will be key to allowing Loscam to further capitalise and expand on its footprint and services.
Yichen Zhang, chairman and CEO of CITIC Capital Holdings Ltd., Frank Tang, chairman and CEO of FountainVest Partners, Sirin Limpitoon, president of China Merchants Loscam, and other leaders attended the ceremony.
China Merchants Loscam provides pooling and returnable packaging solutions for use in supply chains. Operating in 12 regions throughout Asia Pacific, Loscam is focused on delivering high-quality, innovative and environmentally sustainable solutions and fit-for-purpose systems and procedures to the local markets. This dedication has led Loscam to achieve a leading market position in various sectors including manufacturing retail supply chains.
Established in 1942, Loscam operates in Australia, China, Hong Kong, Indonesia, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam.