LX Pantos announced on the 11th that it has entered into an acquisition agreement for a logistics center in Dalton, northwest of Atlanta, Georgia. By securing logistics infrastructure in the southeastern U.S., a logistics hub and a key base where many of our manufacturing corporations have expanded, it aims to enhance supply chain competitiveness and strengthen its presence in the U.S. market.
About 30 people attended the contract signing ceremony on the 7th (local time), including Lee Yong-ho, CEO of LX Pantos, Yun Sang-ho, Deputy Minister of Korea Marine Industry Promotion Corporation (KOMIP), and officials from the Georgia Department of Economic Development. The logistics center acquired by LX Pantos has a site area equivalent to 43 soccer fields, covering 304,769 square meters (approximately 92,193 pyeong), and consists of two buildings for a newly built ambient logistics center.
This acquisition was conducted as a joint investment between LX Pantos and KOMIP, with an acquisition amount of about 170 billion won. It was promoted as part of the government policy to support domestic logistics corporations in owning logistics centers located in key overseas bases, based on financial support from KOMIP, known as the 'Global Hub Port Construction Strategy.'
LX Pantos plans to intensify its logistics business in the U.S. based on the new logistics center. Georgia has approximately 140 domestic corporations, including automotive and secondary battery manufacturers and their partners, operating nearby. Especially, Dalton, where the logistics center is located, is considered a key city connecting the southern and mid-eastern U.S. With connections to land and rail transport, deliveries across the U.S. can be achieved within 1-2 days, and the nearby Port of Savannah is the fastest-growing among the four major ports in the U.S.
Lee Yong-ho, CEO of LX Pantos, noted, 'Through this collaborative project between the two companies, we can further strengthen national logistics competitiveness in the U.S., the world's largest market.' He added, 'While enhancing sales capabilities targeting diverse industry customers, we will actively expand our presence in the U.S. market through differentiated logistics services.'