Manila, Philippines: AC Logistics Holdings Corp. (AC Logistics) and Glacier Megafridge, Inc. (GMI) have signed a joint venture agreement to construct and operate a cold storage facility in Cagayan de Oro.
GMI is one of the largest cold chain storage and logistical services provider in the Philippines. The company provides integrated cold chain operations including cold storage warehousing, blast freezing, inventory management, transport management, distribution, and logistics.
Arturo C. Yan, GMI President and CEO shares, “We envision a closed loop corridor that preserves and prolongs shelf life of both local and imported meat and poultry, fish catch and farm produce from traders, manufacturers and producers in and around the region. This facility that we shall soon be operating in Cagayan de Oro dovetails with our objectives of bringing facilities closer to key sources of food, providing a prospect of better incomes for farmers and fishermen and providing safe, secure and sufficient products at stable prices to consumers.”
Ayala Corporation President and CEO Fernando Zobel de Ayala adds, “Food safety and security are top concerns for many Filipinos while limited market access and low incomes have kept generations of food producers struggling. I am delighted at the prospect of the Ayala group having a direct positive impact on our country’s food security through this partnership with GMI. This aligns perfectly with our group’s sustainability thrusts and with the UN’s sustainable development goals”.
There is a shortage in capacity to meet the growth in the country’s cold storage needs for food production and consumption. The current need to keep and preserve temperature-sensitive vaccines and other healthcare products in cold storage facilities exacerbates the shortfall.
“We are grateful to Mr. Yan for allowing us to partner with him as we believe his knowledge and experience in the industry is very important. This maiden venture into cold chain for AC Logistic embodies our aspiration to help meet our country’s need for these types of facilities and services. Cold storage and delivery capabilities in the AC Logistics group will open synergies with our various operating companies. It will enable us to better serve our country’s growing need for logistical cold chain service delivery in present and emerging industries and business ecosystems.” said Rene D. Almendras, AC Logistics President and CEO.
A groundbreaking ceremony for the cold chain facility was held on November 18, 2021, at Tablon, Cagayan de Oro. It is strategically situated to service the needs of various local and multinational companies in Northern Mindanao. The facility is expected to commence operations in the latter part of 2022 and is envisioned to be an integral part of the supply chain of several companies and a key facility to support the region’s development.
AC Logistics is Ayala Corporation’s wholly owned subsidiary for investments in the logistics sector.
Glacier Megafridge Inc. is one of the largest cold chain storage and logistical services provider in the Philippines. The Company provides integrated operations including cold storage warehousing, blast freezing, inventory management, transport management, distribution, and logistics.
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Joseph Anthony M. Quesada