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Hong Kong, 22nd October 2014 CITIC Global Trade (Shanghai) Co., Ltd, (CGT) the subsidiary of CITIC Securities, China’s largest investment bank, has signed a MOU with Impala Terminals, the global terminals operator, to create a joint venture warehousing, logistics, freight forwarding and terminals business in China, working to international standards of security and operating processes. The joint venture will be run by CGT and Impala Terminals focusing initially on Shanghai, but is expected to expand quickly to other parts of China and abroad. “The joint venture will combine Impala’s warehousing and logistics expertise and global assets, with CITIC Global Trade's strong China customer base and ability to source Chinese metal in China and abroad, to form a strong partnership,” said Nicolas Konialidis, CEO of Impala Terminals. “We expect the timing of creating this new company will help it to quickly become the market leader in domestic bonded and non-bonded warehousing.” “This strong partnership takes each company’s strongest advantage to stand out from the crowd and we believe the joint venture will soon bring the market a trustworthy, safe and effective warehouse,” said a spokesperson from CGT. CGT operates within the Shanghai Pilot Free Trade Zone, created by the Government in September last year. CGT is wholly owned by CITIC Securities. Its business mainly focuses on precious metal, base metal, energy, shipment and dry goods. In China, Impala Terminal’s extensive warehouse and logistics network covers the east of China and the Yangtze River, supporting the delivery of refined metals, bulk commodities and general cargo to key domestic markets and international ports. The Yangshan Terminal near Shanghai is Impala Terminals’ newest metals warehouse, located in the first free trade zone of its kind in China. About CITIC Securities CITIC Securities Co., Ltd. (CITICS) was incorporated in Beijing on October 25, 1995. On January 6, 2003, CITICS (Ticker: 600030) was listed on the Shanghai Stock Exchange. On October 6, 2011, CITICS (Ticker: 6030) was listed on the Hong Kong Exchange. As of the end of 2013, CITICS' total assets amounted to RMB271.35billion, with equity attributable to owners of the parent at RMB87.69 billion.CITIC Securities maintains the leading position on business fronts such as investment banking, brokerage, asset management, investment advisory service, etc. and has already been providing diversified quality financial services and products by prioritizing the demand of clients and making the best of the powerful franchise, rich client bases and smooth market intelligence sharing. Visit: www.cs.ecitic.com About Impala Terminals Impala Terminals is a wholly owned subsidiary of Trafigura Beheer B.V. Impala Terminals owns and operates a network of over 50 terminals in more than 30 countries that facilitate global trade flows of essential commodities. The company specializes in providing port, LME and non-LME warehouse facilities and multi-modal logistics services that give access to markets and new opportunities. Visit: www.impalaterminals.com Trafigura Beheer B.V. press release 
Image by Trafigura Beheer B.V. |
