SG log firm invests in chem hub
Singapore - Homegrown Yang Kee Logistics said it will pump S$45 million dollars into building a new chemical logistics hub.
The facility is slated for completion in 2011 and will feature new technologies to improve productivity, reduce carbon footprint and increase the company's foothold in the sector, local media said.
The investment is expected to quadruple the company's turnover contribution to 20% by 2012.
"We estimate to reduce our cost by S$2.7 million a year. This reduction comes from owning our facility, from reduction in costs of ownership and by synergising our operations," said Ken Koh, deputy MD.
The logistics firm currently employs approximately 180 works, but expects the number to rise to 280 by 2012.
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