LX Pantos Acquires Major US Logistics Center... Targeting North American Logistics Market

Contract for Logistics Center Acquisition Signed on the 7th

LX Pantos is acquiring a large logistics center located in the state of Georgia, USA. This move aims to secure logistics infrastructure in a key hub in the southeastern US, where domestic manufacturing companies have established a presence. The plan is to enhance national supply chain competitiveness and increase market share in the US.

On the 7th (local time), LX Pantos announced on the 11th that it held a contract signing ceremony for the acquisition of the logistics center in Dalton, northwest of Atlanta, Georgia. About 30 people attended the event, including LX Pantos CEO Yongho Lee, Yoon Sang-ho, head of the Korea Ocean Business Corporation, and officials from the Georgia Department of Economic Development.

The logistics center being acquired by LX Pantos covers a site area of 304,769㎡ (92,193 pyeong), equivalent to the size of 43 soccer fields. It is a newly built ambient temperature logistics center consisting of two buildings.

Overview of LX Pantos logistics center in Georgia, USA. Provided by LX Pantos

This logistics center acquisition was carried out as a joint investment between LX Pantos and the Korea Ocean Business Corporation (hereafter K-OBC). The acquisition amount is approximately 170 billion KRW. This is part of K-OBC’s key project, the 'Global Hub Port Construction Strategy.'

Based on the new logistics center, LX Pantos plans to accelerate the expansion of its logistics business within the US. Leveraging the advantage of owning the logistics center, it aims to enhance logistics stability and efficiency centered on key local customers such as LG Electronics and Hanwha Q CELLS, while actively attracting new customers targeting Korean and global manufacturers.

In fact, more than 140 domestic companies, including automobile and secondary battery manufacturers and their partners, have entered the Georgia area. Furthermore, due to the recent US government’s reshoring policy for manufacturing companies, the number of US-based or global manufacturers coming to Georgia is expected to increase.

Georgia is growing as a logistics hub in the US through its port (Port of Savannah), railroad (Appalachian Terminal), and airport (Atlanta Airport). In particular, Dalton, where the logistics center is located, is considered a key city connecting the southern and mid-eastern US. When linked with land and rail transport, domestic delivery across the US is possible within 1 to 2 days, and the Port of Savannah is the fastest-growing among the four major US ports.

Yongho Lee, CEO of LX Pantos, said, "With the acquisition of the new logistics center, we will strengthen our sales capabilities targeting customers in various industries such as automotive, batteries, and solar power, while solidifying our position in the US market through differentiated logistics services."

This content was produced with the assistance of AI translation services.