services company Singapore Airport Terminal Services (SATS) has acquired a minority
stake in a new joint-venture cargo handling operation at Tianjin Airport, near the
Chinese capital Beijing.
Airlines subsidiary SATS says in a statement to the Singapore stock exchange
that the joint venture company has been named Tianjin Airport Cargo Services
(TACS). SATS will have an indirect stake through its 40% shareholding in
Beijing Aviation Ground Services (BGS).
BGS has the
biggest single stake in TACS, of 46%. Tianjin Binhai International Airport Co
has 44% and Tianjin Wan Shi Long International Logistics has 10%. The joint
venture partners are providing a combined initial investment of 50 million yuan
($6 million), says SATS.
provide cargo handling, aircraft ramp services, cargo agency services and other
air transport-related services at Tianjin Airport,” it says, adding that the
airport is the 15th busiest cargo airport in China.
presently has cargo and ground handling operations at Beijing Capital International
Airport, will participate in the management and operations of TACS, provide
TACS with training support, and assist TACS to plan and develop a cargo
terminal and related cargo handling facilities at Tianjin Airport.”
ground handling and catering operations at Singapore’s Changi airport and many other
airports in the Asia-Pacific region. With TACS it now has interests in 16 ventures
outside Singapore at 24 airports. At Tianjin Airport it already has an
in-flight catering joint venture, Tianjin Airport Kitchen, through associated company
Beijing Airport Inflight Kitchen.
one of the key air cargo hubs in northern China and is expected to benefit strongly
from the strong economic growth in the region,” says SATS president and CEO Ng
envisage further growth through our existing overseas investments and the
establishment of new joint ventures.”